Phase Cotton: Down &Nbsp; Still Beware Of Adjustment.

Height drop

Last weekend, the international market was pushed by the chairman of the Federal Reserve to promote the possibility of "unconventional" stimulus. Stocks and commodities all went up. The ICE cotton hit 87 cents on the same day and then dropped slightly.

Although some of the data released are still empty. But the focus of attention in the international market last weekend is undoubtedly Fed chairman Bernanke's speech at the world bank central bank officials' monetary policy Symposium. In the short term, concerns about the macro market may be affected by this change and become an important backdrop for commodities.

In his speech, he said that if proved necessary, especially in the case of

Zheng cotton jumped high in the last weekend. In the month of May, the new contract came to a new high of 17815 yuan in the month of May. The contract reached a record high of 17660 yuan in January. The average price of cotton reserves dropped 69 yuan on that day.

On the periphery of the operation, the market is expected to continue to climb, and many will continue to hold.

(pioneering futures Dong Shuangwei)

Rising trend will not change.

Friday

Technically, the 27 day ICE cotton rush height dropped, the December challenge of 87 cents / pound pressure level failed, but it still stands on the 13 day average line support, the EMA system keeps a good long run up, the KD and MACD indicators continue to be strong, and the trend will continue. If the December contract can break through 87 cents / pound pressure level, the contract will challenge 90-97 place / pound pressure area, and keep the ICE phase cotton keep a long way to continue to hold more.

China's cotton market rose on Friday, the January contract broke through 17265 yuan / tonne pressure level, the rising trend was formed, and the new flower is coming to the market in September, and the textile industry is coming soon. The market expects the new cotton cost to be up to 17500 yuan / ton, and the final Zheng cotton will be higher than the spot price, which will make Zheng cotton continue to rise. It is suggested that we keep the long way of thinking and continue to hold more single, short term target 17600 yuan / ton line. In case of a callback, we can continue to buy on the back of 17265 yuan / ton support, and the support will be lost until we leave the field.

(Wanda futures Urumqi Sales Department Du Ying)

The US cotton fell sharply and fell slightly.

On Friday, the ICE cotton contract opened at 86.15 in December, fluctuated between 85.81-87.30 and us, and was pushed up to 87.30 in two years by investment fund buying. However, some investors locked in profits before the weekend, and fell late in the late afternoon, resulting in a fall in cotton futures and a 0.87 cent fall in the 86.07 us mark, reaching 0.09%.

Technically speaking, in December, the United States cotton received a "Yin Xing" star, with 3/4 long shadows and a suspected top figure "shooting star". The center of gravity remained inside the Thursday line, and whether it reached the top still needed nearly two days of observation. The RSI index stood on the top 80 and formed overbought in the short term, so investors need to watch closely and stop the profits at the right time.

On the basic side, the US cotton export sales data were good on Thursday, and a large number of contracts and shipments have been signed in the past few weeks. The sale is fast before India cotton and China's new cotton are listed. This is not much time for us cotton, and futures will advance half a month or a month. Therefore, in September, the pressure on US cotton will increase and the probability of maintaining high position will be low.

On the domestic side, by participating in the cotton inspection team organized by the Zhengjiao exchange, the author has generally reduced the planting area in the the Yellow River River Basin, but it is growing well. This year, the per unit area yield is expected to increase substantially. Only the Dezhou cotton producing area has been seriously damaged, resulting in a reduction in production. Therefore, investors need to pay close attention to the weather conditions in recent 20 days. If the weather is good throughout the country, the output per unit area is expected to increase substantially this year.

Therefore, investors should be cautious about seeing Zheng cotton and stop profits at the right time.

On the operation, the 17265 drop is all out.