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ICE Cotton Is Expected To Stabilize After A Big Fall (11.16)

2010/11/16 14:05:00 38

Consumer buying makes ICE cotton decline for the three consecutive day.

Although most of the time is 15 days

ICE cotton

They all maintained a weak pattern, and the lowest contract in March was 128.38 cents / pound. But in the late stage, with the support of traders and consumer buying, ICE cotton resumed land lost, and the main contract in March rose slightly from 0.02 to 134.2 cents / lb, ending a three day long slump and initially stabilizing.

At present, China has become an absolute factor affecting cotton prices: strong consumer buying has become a driving force for cotton prices, but the pressure of raising interest rates has led to a sharp callback of cotton prices along with the surrounding commodities. The overall market sentiment has suffered heavy setbacks in recent days, and the weakness may continue. The 15 day should not be too optimistic.

Technically, cotton prices have fallen below the short-term average line support, although the average system has maintained a good rise in ranking, but the KD and MACD indicators have formed a downward spiral of adhesion, while the MACD index green column has begun to grow, and the short-term callback may continue. The March contract is expected to challenge the support position of 125 cents / pound, and suggests that the short-term rise of short-term callbacks should be maintained.

The panic on the market eased on Monday.

Zheng cotton

The rest of the market was closed, and some of the bears took the opportunity to leave. The signs of new market entry are obvious, and 27000 yuan / ton is expected to become a new support.

Although the spot market quoted price down, but overall relatively stable, and there is no panic selling, the current prices have been significantly lower than the spot cotton prices, expected in the panic mood subsided, spot pactions active, from textile enterprises and traders speculative buying will constitute a new multi force, Zheng cotton may be re stabilized.

Expected today is expected to focus on the operation of 28000 yuan / ton, short term trading is appropriate, the air can be reduced to the appropriate reduction.

(Wanda futures Urumqi Sales Department Du Ying)

ICE cotton decline narrower followed the surrounding market

Overnight

International Commodity

Most of the low rally, the dollar continued to rebound trend, ICE cotton recovery of Asian plate decline, closing slightly decline, the next cotton will continue to follow more Chinese disk and the surrounding market.

Last night, the focus of attention in the international market continued to focus on whether Ireland could have a debt crisis similar to that in Greece. Ireland's trade minister denied on Sunday that Ireland was negotiating negotiations on accepting billions of euros, while other media revealed that European officials, including German Chancellor Merkel, are pressing Ireland to accept aid in order to remove concerns about the sovereign debt crisis.

On the other hand, with the sharp fall in US bond prices, the US stock market closed sharply on Monday. The US retail sales growth in October exceeded expectations. It pushed the US stock market up in most trading hours, and the stock market rebounded. The appreciation of the US dollar is still continuing, and the impact on the commodities is different. The majority of the agricultural products rebounded. In terms of cotton, the delayed CFTC fund position shows that as of the week November 9th, the net speculative rate of cotton speculation continued to slip slightly 0.34 percentage points to 15.48% after a slight decline in the previous week.

Zheng cotton yesterday almost opened the market, then rebounded, and intensified in the trading, trading volume and positions continued to shrink. There were gains and losses in the main positions. The spot market was around 28500, and the spot traders had strong will. On the news side, the national development and Reform Commission and other local ministries and governments may take measures to control price rise with the package of Taiwan and Taiwan, which may include price limits, the mayor responsibility system of "vegetable basket", price subsidies, and severely punish hoarding.

Short term direction is not very clear, shock is the main, it is advisable to wait and see, or refer to the short term trading of technical indicators in the short term, do a good job in capital management plan.

(pioneering futures Dong Shuangwei)

Spot cost and supply and demand will support the stabilization of cotton futures price.

ICE cotton futures fell slightly on Monday, while the March contract rose 2 points to close at $1.342.

Affected by China's monetary tightening policy and high cotton prices, the market has accumulated a greater risk. Cotton prices have also been greatly revised recently. Overnight ICE cotton futures opened at a low speed and continued to decline at the beginning of the market. But after that, traders and cotton textile demand were followed up, so that ICE cotton rebounded sharply and recovered.

No fundamental change has taken place in the economic sphere. The current supply and demand side of fundamentals will continue to be tight. The adjustment of ICE cotton futures is expected to come to an end.

The domestic spot market has also been reflected in the spot market because of the decline of Zheng cotton futures. As the price goes down, spot stocks have also been released, and the supply of Xinjiang cotton and imported cotton will increase. But because of the higher cost of seed cotton purchase this year, the support of cost structure has certain resistance to the downward adjustment of Zheng cotton futures. The shortage of spot and down will restrict the decline of futures prices. It is expected that the price of zhengmian futures will stabilize and shake. (Haitong futures Zhengzhou Sales Department: Zhang Jianwei)