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Cotton market opens higher - July 6, 2007
07 Jul '07
3 min read
This area is mostly dryland cotton fields. Same as in the Lubbock area, the cotton is just going to be late here. Around Houston, the entire coast down to the valley has received enormous amounts of rain. And 40% chance of rain is expected throughout the weekend.
Another strong close today when all the technicals are indicating strong buy signals. Despite the sideways trading during mid day, prices held up firm for the last hour of today right into close. More buying from the spec side is expected based on the strong technical performance, as bulls are trying to find more market support to chase prices higher.
Moving averages are strong in their upward trend, with the 9 day average at 6294 and the 50 day average at 5712.
Click here to view graphical presentation:
Another strong close today when all the technicals are indicating strong buy signals. Despite the sideways trading during mid day, prices held up firm for the last hour of today right into close. More buying from the spec side is expected based on the strong technical performance, as bulls are trying to find more market support to chase prices higher.
Moving averages are strong in their upward trend, with the 9 day average at 6294 and the 50 day average at 5712.
Click here to view graphical presentation:
ECOM USA Inc
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