NEWS
Darin Newsom DTN Senior Analyst
Mon Mar 2, 2015 08:03 AM CST

Cotton: Long-term Bullish Signals

A close look at the monthly chart for cotton shows a number of important technical signals were established at the end of February, all of them bullish. First, the more active May contract moved to a new 4-month high of 66.24, falling just short of taking out the September 2014 high of 68.48. Second, the May was able to close near its monthly high at 64.93 on increased support from noncommercial traders (third study, blue histogram). This group moved from a net-short futures position of 15,572 at the end of January to a net-long futures position ...

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