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ECOM daily cotton market recap - Feb 1, 2007
02 Feb '07
3 min read
Technically the march contract may have come to life a little this week, however it is still entrenched in a tight 52.90 to 55.20 range, closing in the bottom half of this range today. The chart is definitely flagging for a breakout, but it is hard to predict where the next break will come from.
Momentum wise the RSI is neutral at 43.07, whilst the trend following moving averages ( 9 day EMA and 50 day SMA ) have entirely converged. At this stage we will need to see prices break the current trading range one way or another to be convinced of any potential trend.
Click here to view graphical presentation:
Momentum wise the RSI is neutral at 43.07, whilst the trend following moving averages ( 9 day EMA and 50 day SMA ) have entirely converged. At this stage we will need to see prices break the current trading range one way or another to be convinced of any potential trend.
Click here to view graphical presentation:
ECOM USA Inc
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