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Cotton prices finishes higher for third consecutive week
20 Apr '09
4 min read
No doubt at least some sell stops will be triggered on a July close below 4975, 4833 and 4785. Significantly more would be found below last weeks 4750 low. A perfect text book correction would take July into rather excellent moving average and retracement support around 4700.
Even though something could still throw a curve, without a doubt, the chances for the vast Texas High Plains crop to be planted on a timely basis has been greatly enhanced. The High Plains Water District had already advised that subsoil moisture was better than last year. Historically, the rule of thumb for the optimum planting period has been between May 5-20.
Even though something could still throw a curve, without a doubt, the chances for the vast Texas High Plains crop to be planted on a timely basis has been greatly enhanced. The High Plains Water District had already advised that subsoil moisture was better than last year. Historically, the rule of thumb for the optimum planting period has been between May 5-20.
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