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11.18 Zheng Cotton: Low Open Rebound &Nbsp, Continue To Shock

2011/11/19 14:41:00 11

Zheng cotton Market: on Thursday, November 18th, the New York stock market crashed and stopped. Today, Zheng cotton's CF1205 contract is low, and the early trading is backed by the support of the short supply. Then the bull market is closed down, and the price of the repression period falls.

open interest

Reduce.

The CF1201 contract concluded 4824 hands on the day, 884 on the day, and 22388 at the end of the contract; the CF1205 contract day was 46358 hands, and the day was reduced by 14262, and the final position was 192226 hands.

Related market conditions: Thursday ICE cotton

futures

Large scale

Fall

The main contract is down.

Fundamentals: rainfall covers most parts of the north, which has a negative effect on seed cotton sale. Especially in some parts of the the Yellow River River Basin, the weather factors are strong, and the market turnover is light.

Although the purchase price of seed cotton has remained stable, the impact of rainfall has increased, and the acquisition of processing enterprises is more cautious, so that the lint is not sufficient for storage.

At present, downstream textile mills and cotton yarn distributors are still cautious in purchasing small quantities of cotton yarns. Therefore, shipments of cotton mills are difficult, and prices are constantly lowered to win a limited market.

On the other hand, cotton was supported by the raising price of cottonseed oil yesterday. Today's products are generally stable, and cottonseed prices are rising steadily.

On the 17 day, China's cotton price refers to (CCIndex328) 19196 yuan / ton, down 16 yuan, 527 cotton to plant average price 16701 yuan / ton, down 8 yuan.

Technical side analysis: on Thursday, the US cotton December contract fell and stopped, the day line grew dark and covered the first two trading days.

Gain

At the end of the day, the average closing position of the 10 day was weak. The rebound in the early morning market did not break the 10 day moving average pressure. The midline form weakened but did not destroy the arc bottom pattern of the previous stage; the upper box underrail support formed by the 60 minute graphics broke down, and the short line was in the form of breaking position, but there was technical support for the consolidation interval from 10 to 14 days.

US cotton March contract fell and stopped, the Japanese line grew Yin line and engulfed the line on Tuesday. Today's early rally is a technical form of engulfing; the upward triangular downward track formed by the 60 minute graphics broke down and broke the high point of 14 days, and the technical plane broke down, and today's early trading touches the first round rebound of the 14 day's rally area. The position has some technical support, such as the formation of horizontal finishing in the market, and the possibility of further investigation after the rebound.

Today, Zheng cotton CF1205 contract opened lower and picked up the small line. The daily line tests the 5 day average pressure, the middle line maintains the trend of oscillation; the 60 minute figure is lowered to the back of the compensation day, and then it drops along the EMA, and the short line is still formed in the early stage, and the direction is not clear.