Cotton To Resume Downtrend?
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
May cotton
(
CTK1 |
Quote |
Chart |
News |
PowerRating) looks poised to resume its downtrend out of a
three-bar pullback from lows. Look for a shorting opportunity here.
The March Nasdaq 100 futures
(
NDH1 |
Quote |
Chart |
News |
PowerRating) are consolidating at lower levels and look poised to make another
leg down. Look for a shorting opportunity here on a resumption of weakness.
April gold
(
GCJ1 |
Quote |
Chart |
News |
PowerRating) is in its first pullback since its sharp rally off of
life-of-contract lows. Look for a buying opportunity here.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!