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Plentiful supply of cotton leads to wait & watch by buyers
18 Apr '08
2 min read
NYF had a nice pop in the technical picture yesterday but failed to follow through, which caused profit taking selling later on during the session. More selling came in Thursday and created a negative looking candlestick. The majority of the session was trading beneath the short term moving average and the RSI is at 45%.
As K'08 open interest is just over 22,000 contracts 5 days to the first notice day, the cert stocks level has gone up to 999,344 bales with 141,960 awaiting review. We'll very likely trade in consolidation ahead of the K'08 FND.
Click here to view more:
As K'08 open interest is just over 22,000 contracts 5 days to the first notice day, the cert stocks level has gone up to 999,344 bales with 141,960 awaiting review. We'll very likely trade in consolidation ahead of the K'08 FND.
Click here to view more:
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