Market Overview

Cotton shows Buy Signal

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.
Cotton futures rallied today (3/11) as the U.S. dollar declined.

This move higher gives me a fresh buy signal for May cotton on the daily chart. Cotton gave a buy signal on the weekly chart last week and the trend is up on the monthly chart. Today's buy signal comes after three consecutive down days.

The USDA reported yesterday that cotton import demand in China is up with their imports increasing by 500,000 bales.

In my opinion this retracement may be a good buying opportunity.

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To review what I consider a "buy signal" watch Larry Baer's Traditional Trending Strategy video: http://www.youtube.com/watch?v=iro7sFQRG5k

For my views on other markets visit Larry Baer's Options & Futures Trading Strategies: http://larrybaer.com
Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

Posted-In: Long Ideas Futures Movers & Shakers Commodities Technicals Options Intraday Update Markets Movers Trading Ideas

 

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