Home / Knowledge / News / Textiles / Cotton markets expected to bounce back next week
Cotton markets expected to bounce back next week
07
Jun '08
Grain markets traded higher overnight and gave support to cotton which rallied almost limit up at one point. Grains eventually came down later in the day which contributed to the profit taking pull back.

Today the headlines were new record oil prices which went up today almost 8% or over 10 dollars a barrel and 12% in the last two days.

Volume was strong today with 52,000 futures and 14,700 options. Obviously, energy at these levels along with the growing volatility, will be a major factor in how cotton behaves next week.

We are seeing less demand at these levels and suspect there is good scale up trade selling above 75.00 in Z'08. The cotton market was due for a bounce and we will have to see if we can uncover some buy stops along the way or this rally will be short lived.

Technically, the MACD could cross back next week and RSI has room to go higher. The upside resistance is limited until 69 cents but we do have options expiration next week with a large volume of 70 cent puts sitting above the market.

With such a strong bounce in commodities across the board this week, the low established on Tuesday at 63 cents may hold up through options expiration.

However, the upside feels limited as we still have over 100,000 contracts in N'08 to roll forward. The spreads are staying wide and cert stocks keep ticking higher so the resistance on cotton scale up is going to stay in place.

Click here to view more:

ECOM USA Inc


Must ReadView All

AAFA hails passage of Miscellaneous Tariff Bill in US House

Apparel/Garments | On 24th Jan 2018

AAFA hails passage of Miscellaneous Tariff Bill in US House

The American Apparel & Footwear Association (AAFA) has applauded the...

India’s yarn, fabrics, made-ups imports rise 20% in Dec

Textiles | On 24th Jan 2018

India’s yarn, fabrics, made-ups imports rise 20% in Dec

India’s imports of yarn, fabrics and made-up articles during December ...

India’s Liberty Shoes plans adding 50 stores by 2019

Apparel/Garments | On 24th Jan 2018

India’s Liberty Shoes plans adding 50 stores by 2019

Indian footwear major Liberty Shoes is preparing to open about 50...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search