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ECOM daily cotton market recap - Jan 26, 2007
27 Jan '07
2 min read
In other news the US has now classed 20.319 million bales out of an estimated 21.76. Of these 71.4% are of tenderable quality.
Click here to view graphical presentation:
One almost feels the need to check the March contract for a pulse lately, with tight sideways ranges again continuing to be the status quo.
Today's 54 point range was bearish in appearance, opening on the high above yesterday's highs and closing on the low, below yesterday's low.
We are still stuck in a short term trading range between 52.90 and 55.15.Outside of this range we continue to see the greater range from 57.00 down to 51.00 in general.
Momentum is very neutral at 45.96 on the RSI, whilst the moving averages (9 EMA and 50 SMA) are still converging, which is still a wild card for lower price extremes.
Click here to view graphical presentation:
One almost feels the need to check the March contract for a pulse lately, with tight sideways ranges again continuing to be the status quo.
Today's 54 point range was bearish in appearance, opening on the high above yesterday's highs and closing on the low, below yesterday's low.
We are still stuck in a short term trading range between 52.90 and 55.15.Outside of this range we continue to see the greater range from 57.00 down to 51.00 in general.
Momentum is very neutral at 45.96 on the RSI, whilst the moving averages (9 EMA and 50 SMA) are still converging, which is still a wild card for lower price extremes.
ECOM USA Inc
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