Open interest in cotton reaches record levels again
28 Sep '07
2 min read
The entire commodity complex as well as the equity markets are approaching record highs with cotton RSI closing in on 80. All of this continues while the real estate market endures the negative pressure on prices and home foreclosures which certainly will create a big cut in consumer spending for the 4th quarter.
Even though the fundamentals are calling for a correction, we cannot deny that further upside is possible in the short term until the specs can satisfy their appetite or trade selling becomes too strong.
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