Dongxing Futures: Cotton Rebounded &Nbsp After Breaking The Position; Short-Term Need To Be Cautious.

First, futures market review

Zheng cotton main contract opened 09 yuan, 28000 yuan.

Two. Analysis of important factors

Message side: for stability

External news: US cotton July contract closed 177.40 cents / pound, down 0.34%.

Cotton futures closed down for fourth consecutive days on Friday, continuing to decline from a drop of US $2 per pound. Goldman Sachs once again released bad interest, which is expected to suppress market sentiment.

Domestic spot market: in April 18th, China's cotton price index (CCIndex328) was 29300, down 11 points.

In April 18th, China's cotton import price index (FCIndexM) was 217.01, down 0.53.

The import cost is 36084 yuan / ton at 1% customs duty, and 36373 yuan per ton according to the sliding price.

Matchmaking deal: in April 18th, the cotton trading market of the national cotton trade reached 25200 tons, an increase of 12020 tons compared with the previous trading day, an increase of 1400 tons of orders, and an aggregate order of 88940 tons.

In April 18th, the market rebounded and the volume increased.

MA1105 average price of 27675 yuan, down 353 yuan.

MA1109 average price of 27720, down 292 yuan.

Main trend: according to the top ten positions, in April 18th, the total contract of zhengmian ranked more than 10 in the 5967 hand to 114508 hands, short hand reduced 831 to 125434 hands.

Clearance single 10926 hands.

The clearance of the main force continued to rise in April 18th.

Warehouse receipt change: in April 18th, Zhengzhou cotton No. 1 warehouse receipt was 603, with an effective forecast of 404.

Three. Technical analysis

Cotton 09 contract: April 18th closed the small line.

The highest point is 28285, the lowest point is 27645.

In terms of technical indicators, RSI and KDJ go downhill; MACD goes down in April 18th.

In April 18th, the opening price dropped below 28000, and then there was a certain rebound. However, the overall rebound was relatively limited.

Four, investment proposals

In April 18th, cotton opened to the sky, directly below the 28000 important points of the previous stage, and then hit a new low.

Although the sell-off of the market has decreased, it has formed a certain rebound.

But judging from the trend of rebound, upward intention is not strong.

Technically, there is no significant 5 day moving average above the average.

On the spot side, cotton yarn prices continued to be flat, with a low willingness to fall, and lint prices remained stable and slightly down.

Although rebounded in April 18th, the downward trend in technology is perfect. After the rebound, the difficulty of short-term continuous pull up is very large, and the operation is not difficult.

It is recommended that investors should wait and see, and 09 zhengmian days should be short.

Strong and weak water diversion depends on 28000.

If the rally continues tomorrow, it will be possible to stay overnight, or else continue to wait and see.

The 1201 contract in April 18th will fall relative to its 25000 support.