Over the last ten-and-a-half weeks relentless spec and trade selling has pushed the December contract nearly 1700 points lower and it still remains to be seen where this decline ultimately leads to. From a technical perspective we are now ...
After speculators had sold nearly 8 million bales net since early May, they finally seemed to move to the sidelines, allowing the market to recover some of its losses this week. The latest CFTC report as of July 29 showed speculators ...
Tags: Speculators, Decline, Textile
The NY cotton futures market was down 394 points for the week from Monday's 72.06 open to Friday's settle at 68.12. Without a doubt the USDA WASDE report was bearish and the market took a quick dive once the report was released. They ...
Tags: USDA, The NY Cotton, Textile
NY futures extended their decline this week, with December falling another 351 points to close at 68.55 cents. The market continued its relentless slide, driven by the same dynamics we talked about last week. The market’s weakness ...
Tags: NY Cotton Futures, Decline, Textile
Futures prices continued to tumble this week, as negative fundamental and technical factors exerted additional downward pressure on the market. Abundant rainfall in West Texas over the Memorial Day weekend could potentially add 1.5-2.0 ...
Tags: Cotton, Cotton Futures
It was a combination of technical weakness and economic worries that weighed on the market this week, as the spot month moved perilously close to the important 90 cents support level, settling at its lowest level since March 13. From a ...
The market has felt deflated ever since the wild ride on March 26, during which the spot contract shot up to a high of 97.35 cents/lb before dropping more than 500 points below that level by the end of the session. From a technical ...
Tags: Cotton Futures, Xinjiang cotton
NY cotton futures fell four straight sessions before pulling back up Friday, ending the week lower by dropping 134 points in the spot May contract month. Monday’s weaker session set the tone for this week’s trading as USDA ...
Tags: NY cotton, Cotton Futures
Although this week’s trading action may have felt like a victory for the bears, the chart reveals that the market has actually moved sideways in the last 15 sessions, with May closing in a tight range between 91 and 94 cents since ...
Tags: Cotton Futures, Mixed Trends, balance sheet
The market has remained undecided as to where it wants to go next, with the last eleven sessions closing in a narrow range of just 166 points. The structure is still more or less the same in current crop futures, with specs and index funds ...
Tags: Cotton Futures, crop futures, on-call sales
NY futures resumed their uptrend this week, as May rallied 380 points to close at 91.61 cents, while December gained 171 points to close at 79.55 cents. After meandering sideways for the past six weeks, unable to generate much ...
Tags: Cotton Futures, Cotton market, Textile
The liquidation of the March contract proceeded in a speedy and orderly fashion, as open interest was down to just 6’393 contracts or 639’300 bales as of this morning. With another 3’300 contracts trading, most of ...
Tags: Cotton Futures, Textile
From a technical point of view the market did resolve the flag formation that we had mentioned last week and broke out to the upside, which propelled March to a six-month high, while May traded at its best level since April 2012. On ...
Tags: Upward Trend, Cotton Futures
Ever since reclaiming the 82 cents level about a month ago, the market has gone nowhere, closing the last 20 sessions in a very tight range of just 242 points, between 82.24 and 84.66 cents. The changes in the CFTC spec/hedge report tell ...
Tags: Cotton Futures, Textile
The market tested and successfully held the important 82 cents support level when it briefly dipped to an intra-day low of 81.42 cents on December 23rd. By holding support the market managed to attract additional spec buying, which prompted ...
Tags: Cotton Futures, Holiday Period, Cotton