REPORT For Date 13/04/2019
NY COT EXCHANGE Cotton No.2 (Price figures in cent/5000lbs):
Traders long and holding the same can maintain the stop loss at 77.50.
Resistance is at 79.57-79.77.
On sustained rise and close above 79.77 expect a rally towards 80.23-80.66-81.85.
Higher range can attract resistance and profit booking could be witnessed.
As long as 81.85 is not crossed higher range of 79.77-81.78 can be used to exit long and take profits.
Try to ride the run as long as stop loss is not violated.
Correction can be seen if sustains below 77.50.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
78.86
|
76.39
|
UP
|
76.58
|
22.03
|
75.75
|
77.76
|
78.66
|
79.77
|
81.78
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
58.95
|
2.96
|
92.95
|
3.52
|
-0.37
|
44.91
|
41.82
|
3.52
|
.png)
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.
0 Comments 
Post Comment 
