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Zhengmian Futures: Low Opening &Nbsp In August 17Th, Shrinkage Reduction.

2010/8/17 17:01:00 50

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Zheng cotton market

Situation: on Monday, August 17th, the New York Stock Exchange Adjustment fell. Today, Zheng cotton's CF1101 contract opened slightly, and it was low in the bull market and the short selling in the afternoon. In the afternoon, the bullish buying price of the bulls was stabilized, and the trading volume was adjusted at the end of the day.

CF1101 contract day 45414 hands, 1118 hand cut daily, final holding of 149266 hands, CF1105 contract day 27118 hands, 2548 hands, final holding capacity of 88632 hands.

Related market conditions: Monday NYBOT

cotton

Futures are slightly adjusted.

Fundamentals:

Goods in stock

Prices are stable.

The auction price of reserve cotton has also been stable, and the enthusiasm of price increase has been reduced.

Cotton in the spot market is basically unattended, and even sales can't be concluded.

Xinjiang cotton is also hard to sell in the early stage, and the textile factory is concentrating on cotton reserves.

Some small and medium-sized textile enterprises have more capital and maintain wait-and-see.

16, China's cotton price index (CC Index 328) 18139 tons, up 1429 cotton to plant average price 17722 yuan / ton, stable.

Technical analysis: on Monday, the US cotton index and the December contract adjustment adjusted the Yin line star, the period price has not broken the average and the previous day low point, the long line can be seen as the adjustment after the rise, the technical plane maintains the multi head arrangement; in December, the contract 60 minute graph glides below the 30 average line and the early plate rises the box under the track, the short line form slightly weakens, today morning the horizontal arrangement, the market continues to adjust may pay attention to the 83 cents first line support, the following exploration picks up to return 84.5 cents above, the short-term line is expected to continue to rise, conversely breaks the position below, then the short line should pay attention to 81.8 cents first line support role.

Today, Zheng cotton's CF1101 contract was closed at low opening, and the Japanese line did not break the gap on last Friday's gap, and the long line pattern was more profitable. The 60 minute graph was low, and the rally was blocked by the 10 average moving line. The centre of gravity of the trading was down, and the position of the short jump was not repaid within a day, and the short form slightly weakened. However, the gap on Monday also made obvious support for the period price, and the middle line pattern was still relatively large.

Zheng cotton CF1105 contract opened lower down and closed down the small line, the price remained above the moving average system, the long line kept rising pattern, the 60 minute figure opened and fell down, the 20 average line fell down, and the period price dropped down to the lowest level on Friday. The weak market in the mid market was collated and accompanied by a multi head initiative to reduce the warehouse position. The upward movement was partially released, such as the 17600 rally in the market after the rally. It is still possible to go up in the near future. Otherwise, if we continue to adjust, we should pay attention to the support of the 17370 line when the gap of Friday's gap is down.

Operation suggestion: keep Bullish Thinking and wait for a while.