REPORT For Date 12/05/2018
CZCE Cotton No.1 Sept’18: Further Rise Is Above 15790
Yuan per ton
Hold long position with a stop loss of 15330.
Resistance is at 15667-15790.
Further rise is above 15790.
Support will be at 15528-15432.
Weaker opening and correction first to 15528-15432 can be used for buying with a stop loss of 15530.
Traders can buy above 15790 with low of the week as the stop loss or 15570 whichever is lower.
On sustained rise and close above 15790 expect 15930-16040 to be tested.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
-
|
15570.0
|
15385.0
|
UP
|
15405.0
|
20.04
|
15197
|
15432
|
15528
|
15667
|
15902
|
*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
15570.0
|
1.2
|
557062
|
11.3
|
289198
|
3.2
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.95
|
11.84
|
70.22
|
42.41
|
-31.90
|
30.87
|
72.28
|
2.75
|
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.
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