Cotton High Finishing &Nbsp; 28000 Resistance To Break Through
First, futures market review
Zheng cotton main contract 09 opened 27795 yuan, closed at 27845 points, up 0.41%.
The turnover is 1218910 hands, and the positions are reduced by 10812 to 241126 hands.
Two. Analysis of important factors
News: the deadline is over India.
Cotton export
In December 15, 2010, India's cotton export volume was 250-300 bales.
Each pack weighs 170 kilograms.
December 15th is the deadline for exporters to export 5 million 500 thousand bales of cotton.
According to Washington December 16th, the US Department of agriculture (USDA) released its latest report on Thursday.
Cotton export
According to the sales report, as of December 9th, the United States sold 190400 cotton net sales in 2010-11, and sold 57600 packets of cotton in 2011-12.
External news: the US cotton March contract closed 146.14 cents / pound on the previous day, up 2.68%, closing down.
Cotton futures rose on Thursday, driven by speculative buying, and brokers said market momentum could push cotton futures prices up further at the end of the year.
Domestic spot market: in December 17th, China's cotton price index (CCIndex328) was 27199, up 57 points.
The current price difference relative to the closing price of the 1101 contract is -921 yuan.
In December 17th, China's cotton import price index (FC Index M) was 177.06, up 3.45.
The import cost is 29822 yuan / ton at 1% customs duty, and 30173 yuan per ton according to the sliding price.
Matchmaking deal: December 16th, the national cotton trading market commodity cotton.
Electronics
Matchmaking deal 13360 tons, compared with the previous trading day reduced by 1720 tons, the order quantity reduced 960 tons, the cumulative order quantity is 85500 tons.
Today, the market is shrinking.
MA1101 average price of 27485 yuan, up 21 yuan.
MA1105 average price of 27712 yuan, up 195 yuan.
Main trend: according to the top ten positions, today's zhengcotton total contract ranks more than 10 in the first 1406 positions to 1406 hands to 76780 hands, shorting 2702 to 74030 hands.
Net more than 2750 hands.
Today, the main position has been reduced, but the net number has increased.
Warehouse receipt change: today Zhengzhou No. 1 cotton warehouse receipt is 102, with an effective forecast of 129.
Three. Technical analysis
Cotton 09 contract: today's high level consolidation, Yang cross star.
The highest point is 28060, the lowest point is 27630.
Technical indicators, RSI and KDJ up; MACD uplink, red column zoom in.
Today, the 5 day moving average has been well supported and maintained strongly, but the pressure above 28000 is obvious and needs to be confirmed.
Four, investment proposals
Cotton performance is more tangled today.
Spot cotton yarn prices have not yet stabilized, corporate profits continue to decline.
In terms of raw materials, import prices remain high, pulling domestic cotton prices up.
India's export policy is constantly changing, adding uncertainty to the future supply.
Overall, from the market sentiment, the short term is expected to continue to maintain my upward trend.
On the technical side, the resistance of the 28000 points is still relatively strong, and the breakthrough of the volume of turnover will be required to confirm the rise.
On the operation, it is suggested that investors should hold more cautiously.
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