May Cotton is currently trading at 93.40 and hit 94.39 yesterday. The Zone-Trader Pivot on the Quarterly Profile is at 95.95. May Cotton has failed to extend the Bearish Downtrend. No candle body close below the midpoint between MS3 and MS4 look for reversion to the Zone-Trader Pivot on this specific profile.
May Cotton can continue higher. The key currently is whether or not it can get above the Zone-Trader Pivot on the Quarterly Profile at 95.95 and attempt to make a Bullish Breakout, which will take prices up to the 98.09 to 99.41 area initially.
Currently we are up $5.23 per contract on this trade and each $1 move is equivalent to $500 per contract.
If you are flat and are interested in entering this market, Key off the Yearly Profile and Quarterly Profiles look for buying opportunities around 91.01 if price retraces to this price area.
May Cotton can continue higher. The key currently is whether or not it can get above the Zone-Trader Pivot on the Quarterly Profile at 95.95 and attempt to make a Bullish Breakout, which will take prices up to the 98.09 to 99.41 area initially.
Currently we are up $5.23 per contract on this trade and each $1 move is equivalent to $500 per contract.
If you are flat and are interested in entering this market, Key off the Yearly Profile and Quarterly Profiles look for buying opportunities around 91.01 if price retraces to this price area.
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