COTTON, in a long-term decline since last February is currently stuck within a narrowing range, with a minimum break above 70 cents per pound needed to change the negative outlook.
However, it is worth noting managed money accounts have held a net short position for a record-breaking 39 weeks. In the week to 21 January it reached a near record short position of 48.4k contracts, potentially increasing the risk of short covering on a technical break to the upside
However, it is worth noting managed money accounts have held a net short position for a record-breaking 39 weeks. In the week to 21 January it reached a near record short position of 48.4k contracts, potentially increasing the risk of short covering on a technical break to the upside
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.