Interviews
News Flash
Pressure remains squarely on May & July contracts
17 Apr '07
3 min read
We can expect specs to increase this bet, especially if the 50.00 cent area breaks which judging on many of the recent deliveries (with March 07 the exception to the rule) will likely take place in the next week.
Another dramatic sell off, and it is now starting to appear as though a lot of the long specs are heading for the doors. May dropped through it's support of 51 cents which held well last week and it is now knocking at the critical support level at 50.00 cents.
For Moving averages are both trending lower, with the 9 day now at 51.92 and the 50 day at 53.22. Momentum continues negative with the RSI down to 26.68. This is an area of oversold, so the market should soon have some form of corrective action.
Click here to view graphical presentation:
Another dramatic sell off, and it is now starting to appear as though a lot of the long specs are heading for the doors. May dropped through it's support of 51 cents which held well last week and it is now knocking at the critical support level at 50.00 cents.
For Moving averages are both trending lower, with the 9 day now at 51.92 and the 50 day at 53.22. Momentum continues negative with the RSI down to 26.68. This is an area of oversold, so the market should soon have some form of corrective action.
Click here to view graphical presentation:
ECOM USA Inc
Popular News
Leave your Comments
Editor’s Pick
Dr. Michael Duetsch & Man Woo Lee
UPM Biochemicals and Dongsung Chemical
Kunal Mehta
Kanchi by Shobhna and Kunal Mehta
Sirinada Preechawitayakul
Brand - Senada
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)")
