ECOM daily cotton market recap

03 Nov '06

2 min read

Technically the December contract continues to look a build on it's sideways tracking pattern just at the present between 48.00 and 51.00 cents.

Momentum is starting to weaken a little, whilst trending indicators including both the 9 day EMA and the 50 day SMA are still downward sloping.

Prices are also currently still in the overall down trend channel between 51.50 and 46.50 parameters.

Whilst we can expect the lower ends of the trading range to hold fast, a break of 48.00 would undoubtedly test out the lower end of the channel.

Click here to view graphical presentation.

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