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ECOM daily cotton markets recap - Feb 26, 2007

27 Feb '07

2 min read

The May contract has increased it's volatility of late, a very positive short term pattern forming on the chart. At present the 51.50 low is holding together well, and today's entire session traded above the 9 day exponential moving average is certainly a bullish short term indication.

The 50 day moving is still in decline at 54.86, which does present some heavy resistance, but there is enough to present a short term bounce in the meanwhile. Momentum wise the RSI advanced to 50.62 having bounced off the 30 area last week.

Click here to view graphical presentation:

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