Zheng cotton pressure show the trend of Jiancang Jiancang

Data surface:

Zheng cotton 1301 contract opened higher on Thursday, and finally closed at 19,590 points, down 70 points from the previous trading day, the volume increased to 120,288 hand positions to reduce 7318 to 270,200 hands. The outflow of cotton funds on Thursday was 81 million yuan. Information on cotton warehouse receipts: A total of 1,681 cotton warehouse receipts (of which 315 were Xinjiang), a decrease of 42 (11 Xinjiang cotton, 31 inland cotton) compared to the previous day, effectively forecasting 13. Other quotes: domestic cotton 328B electronic composite synthesis statistics; September average price 19119 yuan / ton (-57), October average price of 19,267 yuan / ton (-65). Domestic cotton CCIndex328 price index: 18413 (+11). Imported cotton FC IndexM price index: 89.24 cents / lb (-0.17), 1% tariff 14377 yuan / ton, quasi-tax slip to 15135 yuan / ton, and the difference between the price of cotton to-3278 yuan / ton.

Basics:

The price of domestic cotton kept a moderate increase, and the market sentiment was relatively stable, but some cotton enterprises faced a difficult financial situation. In some parts of the country, seed cotton has started sporadic picking, and no large-scale acquisitions have yet been formed. The price of cotton in the bonded areas has also risen. The speed of cotton shipments that have been cleared has accelerated, and the market has a better mentality.

Yarn Quotes: In recent days, the cotton spot market is still in a slightly slow rising state. Therefore, the downstream cotton yarn manufacturers also want to increase the price of cotton yarns through rising costs. However, in fact, the price increase manufacturers must sacrifice the transaction volume. Some buyers have already transferred orders to manufacturers that have not raised prices. The volume and price of the whole cotton yarn market was stable, and the sales volume of the whole cotton yarn was fair. The prices of mixed yarn products have remained stable. People's cotton yarn market is being sold in the 10s market, which is mainly used for the production of grosgrain fabrics. The trading volume of other specifications of people's cotton yarn market is not large. Viscose staple fiber prices at a stable state, the latest market center price 15,700 yuan / ton, is expected to market cotton market will be adjusted moderately.

technical analysis:

Cotton

Overnight ICE US Cotton December contract opened lower, opening at 76.95 cents/lb, up to 77.05 cents/lb, down to 75.63 cents/lb, closing at 76.80 cents/lb, down 0.17 cents from the previous trading day / pound, a decrease of 0.23%. The period price stood firm above all the moving averages. The stochastic KD moved up, the reddish bar of the MACD rose, and the short-term price was strong.

Zheng Mian

Zheng Cotton main 1301 contract opened higher on Thursday, weaker shocks, the Japanese K line newspaper to accept the longer shadow Yinxian. In terms of positions, the top 20 longs have increased 779 lots to 77300 lots, and the shorts have lightened 1989 lots to 107,966 lots. Overall, the strength of the empty side is still slightly superior. In terms of moving averages, the period price closed above all the moving averages and there was strong support on the 19400 line. In terms of indicators, the MACD, the trend indicator, diverges downwards and the Hongzhu shortens. Stochastic KD dead fork bond. For the trend, the price stabilized above all the moving averages. Trading volume decreased and positions decreased, indicating that the falling market is difficult to sustain, but at the same time, the pressure at the same time is higher. In the short-term, the main shock is to maintain consolidation, focusing on 19,400 yuan/ton of support and 19,700 yuan / ton pressure level.