December 23Rd ICE: Long Vacation Is Coming To &Nbsp.
Thursday (12.23) New York ICE The cotton futures of the Intercontinental Exchange continued to fall sharply, and the recent contracts continued to fall below the limit line.
The March 2011 contract was sharply lower at 148.12 cents, and it was 155.4 cents in the middle of the day, but then it fell to 148.12 cents and fell to 6 cents on the limit, with 4500 hands and 103816 hands.
May contract closed at 134.67 cents, down 5.02 cents, July contract closed at 123.33 cents, or 3.02 cents.
The US Department of Agriculture announced that the US cotton export sales weekly was positive, but the holiday season is coming. Investors are not in love. The Chinese cotton market continued to fall overnight. Meanwhile, India expects to resume the remaining 2 million 500 thousand cotton registered exports early next year.
The US stock market closed differently on Thursday, and the Dow hit a new high of more than two years ago.
Most investors are reluctant to adjust their positions before the holidays due to holidays and economic data.
In March, cotton fell 6 cents to 148.12 cents, 7.32 cents from the highest point, at the lowest point.
March cotton technology foresight in December 27, 2010, random indicators at overbought level, if the support level falls below, the market will be downhill.
The market closing price is lower than the 9- moving average, and the short-term trend is still bearish.
Considering that the market closing price is below second swing support point, there may be some early pressure today.
The next target is 142.63 cents.
The next resistance range is 151.77 cents and 157.26 cents, while the first supporting position is today's 144.46 cents, and the lower 142.64 cents.
contract
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