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People Say ICE Cotton: External Rebound Promotion Cotton Limit

2011/2/28 18:06:00 55

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Speculative buying makes us cotton trading.

Most of the products showed strong appearance on Friday. Meanwhile, the US cotton export weekly released on Friday showed that consumption remained strong. This led to speculative buying in the market, and the market's short strength has been released after a continuous downward trend. In the absence of selling, the ICE cotton trading in the ICE period was driven by speculative buying and short stop buying. The May contract closed up 7 cents to 184.23 cents / pound.

Judging from the trend of cotton prices, ICE cotton is basically controlled by speculative capital, and funds will determine its trend. We should not be too optimistic about the rebound of a single day, and suggest that we should treat it cautiously.

Technically, on Friday, the ICE cotton bottom picked up.

Cotton price

Running under the short-term average, although the average system keeps rising, the arrangement does not change, but KD and MACD continue to fall short. The MACD index continues to grow, and the callback trend will not change. For example, if the May contract fell below 176 cents / pound support position, the downward goal will be 162 cents / pound, otherwise the cotton price will stop.

rebound

Once again challenge the pressure of 200 cents / pound. It is advisable to stay in the right position and be cautious.

It is expected that under the impetus of ICE cotton trading, today

Zheng cotton

The high jump will challenge the 31200 yuan / tonne pressure level, but the domestic two sessions are approaching. Inflation and prices may become the focus of attention, and the pressure of policy is increasing. Under such circumstances, the short-term market does not have the power and foundation for a substantial increase, and it is not possible to chase down the price of Zheng cotton. It is expected that the market will have a higher probability of opening up and going lower today, with a focus on the 1109 contract 31200 yuan / ton pressure level and the support level of 30000 yuan / ton.

Cotton rebound and spot support, Zheng cotton will also stabilize concussion.

ICE cotton futures rebounded sharply on Friday. The May contract rose 700 points and closed at $1.8423 at the price limit.

ICE cotton futures after low opening were supported by speculative buying, shocks rose, afternoon rebounded rapidly, grain futures prices soared, crude oil prices stabilized, stocks rebounded sharply, and cotton fundamentals remained unchanged. Supply and demand fundamentals still had strong support for market prices, which stimulated speculators to refocus on commodities and enter the market again.

As the overall situation improves, the supply of tight cotton and relatively strong cash spots will be renewed. Cotton prices are expected to fall and rebound.

After the fall of the domestic cotton futures, the market situation was close to the spot price, and the market situation was pulled up from the forward futures to the stock market, to the support of futures prices, and the supply of high-grade cotton on the market supply was lacking. The futures price was in line with the spot price, and the market could not be overlooked. On the technical side, Zheng cotton futures opened up lower on Friday. Although the funds had not yet returned, the 1109 month contract showed some resistance at the 30 thousand pass, and the market downturn was expected to end. After that, some rebound would be possible. But the underlying situation of the downstream purchase and sale situation did not turn well, and the possibility of continuous inflation would not be great.