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ECOM daily cotton market report - March 20, 2008
21 Mar '08
2 min read
Technically, we are heading to the oversold area with RSI below 40%. We are back to where we were before the market ran up and created the island top. The futures might finally attempt to settle down to reconnect with cash market, and the fundamentals might eventually come back into play.
We're now at a level that some mills are willing to consider purchasing for their inventories. Despite the overall sell off in commodities, cotton market is holding fairly well. Also the acreage report is due in a week, which might give the market some support.
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We're now at a level that some mills are willing to consider purchasing for their inventories. Despite the overall sell off in commodities, cotton market is holding fairly well. Also the acreage report is due in a week, which might give the market some support.
Click here to view more:
ECOM USA Inc
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