Interviews
News Flash
ECOM daily cotton market recap - Jan 10, 2007
11 Jan '07
2 min read
Technically, the march contract is continuing to consolidate itself , though today's lows clearly took out some pretty decent support levels at 54.00. Prolonged action beneath this level will likely propel back to the old trading range of 51.00 to 54.00.
The 57 cent area high also meets longer term overhead resistance, which adds weight to the turnaround and hence the end of the recent up channel. Momentum is back to neutral at 44.66 on the RSI, whilst the the moving averages (9 EMA and 50 SMA) are beginning to re-converge which could again negate the original rally back from 51 to 57 cents.
Click here to view graphical presentation:
The 57 cent area high also meets longer term overhead resistance, which adds weight to the turnaround and hence the end of the recent up channel. Momentum is back to neutral at 44.66 on the RSI, whilst the the moving averages (9 EMA and 50 SMA) are beginning to re-converge which could again negate the original rally back from 51 to 57 cents.
Click here to view graphical presentation:
ECOM USA Inc
Popular News
Leave your Comments
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
