Zheng Cotton Futures: May 28Th Volume Fell &Nbsp; Short Line Breaking Position.
Note: 1, volume and position: hand (by bilateral calculation); 2, rise and fall: the difference between the current settlement price and the previous settlement price; and 3, turnover: the sum of the turnover volume and the current turnover.
Zheng cotton Market: on Thursday, May 28th, the New York stock market nearly fell far. Today, Zheng cotton CF1009 contract opened slightly, the afternoon consolidation was in the afternoon. In the afternoon, the bull market was closed down with the short selling, and at the end of the week, it was cut off from the low point under the support of the short end of the weekend, and the day line formed a negative line. The CF1101 contract was closed in the afternoon, and it was tight in the air, and the price of the empty volume in the afternoon was weighed down. The end of the session was stopped under the support of the short back supplement, and the day line grew up. The CF1009 contract concluded 224360 hands on the day, 2052 on the day, and 155864 at the end of the contract. The CF1101 contract day was 248628 hands, the second hand was 676, and the final position was 175284 hands.
Related market conditions: on Thursday, NYBOT cotton futures rose nearly as a result of dealer trading. Today, CNCE electronic matchmaking trading reached 30960 tons, matching low and low, almost to a limit, MA main contract dropped 100 yuan closing, the transaction remained at 30 thousand tons, the order volume continued to decrease.
Fundamentals: the electronic disk has been declining sharply, and the enthusiasm of textile enterprises has gradually weakened, and the price is expected to fall further, with a wait-and-see trend. The price of imported cotton is the advantage of sliding quasi tax quota, and spinning enterprises are still busy buying. Spot prices continued to rise slightly, and most cotton traders are still reluctant to sell. Cotton prices continue to rise, the demand for replenishment of textile enterprises is still high, so the market bullish sentiment is strong. On the 27 day, China's cotton price index (CC Index 328) was 17374 yuan / ton, and the average price of 51429 cotton to plant was 16956 yuan / ton, up 39.
Technical side analysis: on Thursday, the US cotton July contract rebounded and fell down, and the Japanese line formed the shadow line on the 1/2 line, and finally swallowed up the 25 day's shadow line. Today's early position is broken down, the technical plane continues to weaken, the 60 minute graph is pressed down along the EMA, the day before the price break is adjusted, the low point is verified and the effect of the 20 average line is suppressed, the low point of Tuesday is broken early today, and the short term also remains bad, but the current RSI7 is located in the oversold area, and the short term may rebound, for example, the rebound can be concerned about 81-81. The pressure function of the 5 interval, if the rebound is hindered, and then break down, it is possible to test the supporting role of the 80 cent barrier in the near future.
On the same day, the US cotton contract in December picked up the pick up line, and the price was further higher than that of the average line. Today's early adjustment has not broken the 19 day high point, and the long line has extended the profit margin pattern; the 60 minute figure has broken the whole triangle, but it has finally fallen back. Today's early market adjustment has fallen below the previous day's low point, and the short line offensive strength is insufficient. We should pay attention to the support of 78.2 cents tonight. We should go back and pick up a rebound to break through 79.2 cents. The market outlook is expected to continue to go up. Otherwise, if we break 78 cents, we may try 77.2 minutes below the current rate.
Today, Zheng cotton CF1009 contract fell low, closing the line, breaking the first three trading days low, the 5 day and 10 day moving average reverse crossing, the middle line technical side is bad, but the price hit 20 days average line to fall, the EMA system still has some technical support; 60 minutes of the graphics low opened the back test three trading days after the consolidation of the interval, the short track was blocked, the period price was suppressed by the EMA, the afternoon break the early morning finishing interval, the short-term technical surface was broken down. With weekly line analysis, the CF1009 contract fell back to the long line this week, and the week before it swallowed up most of the gains of the previous day, but did not break the support of the 5 week average line.
Breaking the low Tuesday, the central line verified the pressure of the 10 day moving average, and the technical surface formed the prototype of the break position; the 60 minute graphic rebound test was hindered after the 30 average moving line was blocked, and the downward trend occurred before the three trading days, forming a weak market consolidation after the break of the three day of trading. The afternoon fell down to the Tuesday low point, and the short line formed the shape of the dropped position. From the midline form, after the 17 day low test on Tuesday, it went back to the two trading days, and today it slipped below the position support, and the short term technology side weakened again. Zheng cotton CF1101 contract opened and fell down the long line, under the daily line. In terms of weekly line analysis, the CF1101 contract fell this week, and the low point of the week before it swallowed up. It ended in a 10 week average position. The technology could be regarded as the restoration of the RSI high position deviated from the previous week, and the long line has not yet verified the reversal pattern.
Operation suggestion: Zheng cotton CF1009, CF1101 contract continues to hold.
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