Cotton Jumps to One-Month High
Source: VantagePoint Intermarket Analysis Software
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- The market increased by 4.95 dollars.
- 4.95 dollars = 2,475 USD per contract (About 8 trading days)
- When the blue line (forecast) crossed above the black line (actual), VantagePoint predicted the market to trend up. The Neural Index at 1.00 also indicated an expected up trend.
- Cotton’s rally can be attributed to the concern of rain from east Texas to Georgia delaying harvesting and damaging fiber quality in the U.S., the world’s largest exporter.
- Cotton has jumped 29 percent this year on theories that demand will outpace production.
