Technical : Cotton Bales Rajkot Spot : Trend Appears to Be Down



Technical : Cotton Bales Rajkot Spot : Trend Appears to Be Down

23 Sep 2017 11:53 am

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Dated 23/09/2017

Technical : Cotton Bales Rajkot Spot : Trend Appears to Be Down

Cotton 1 Bales Rajkot- 19190- Trend appears to be down

Expect a near term slide towards the last bottom of 18290.

Resistance will be at 19483-19923.

Halt to the slide can be seen if close is above 19923.

RSI and Stochastic is in oversold zone therefore lower levels may attract support but overall objective could be to move lower with volatility.

Lower range for support can be 19043-18603.

Conclusion

Trend is down on weekly chart is likely to move lower towards last bottom.

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