LEONES

Cotton is oversold - bottoming

Long
ICEUSA:CTZ2014   None
3
I switched to the December2014 contract (CTZ14) because the July one is approaching expiry date. Here we have a different pattern. The price reached support today at 76.00. Oversold in the short and medium term. A trade above 77.55 would trigger the long entry with target objective 80.50, first resistance on the way. It could be a major bottom. A trade below 76.00 on the other hand would confirm the continuation of the bear trend.

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