Wednesday, April 15, 2009

Cotton Ready to Bounce off its "Double Bottom"?

Cotton put in a strong effort today - up 1.21, on a day when many of the softs were down - so I perused the short and long term charts for May futures.

Looks like cotton definitely has put in a double bottom, which is usually seen as a bullish indicator, and is rallying off its lows.  If cotton breaks above its highs from earlier this year, we'll be very interested in potentially taking a position here.


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