Cotton Futures Continued To Rise For 5 Days &Nbsp; Continued Strength Or Strength.

delivery

Due to insufficient deliverable resources,

Technically, the ICE phase of cotton five plus Yang closed, cotton prices stabilized on the short-term average line, the short-term average line turned upward, while the KD and MACD indicators continued to rise in a row, the MACD index red column continued to grow, the technology surface will continue to rise, the December contract is expected to challenge the strength of 80 cents / pound, it is recommended to keep the ICE stage cotton keep the idea unchanged, continue to hold more.

Due to market rumors, the NDRC studied the issue of dumping and storage and the September contract fell sharply. On Tuesday, the Zheng cotton 1101 contract once again fell short of 16400 yuan / ton short term support, but its continuous increase in positions continued throughout the day, showing that the rising base still existed, and the technical side continued to improve, and the market's popularity increased. After the impact of the September contract on Zheng cotton weakened, it was expected that Zheng cotton would continue to climb with the increase of ICE cotton and could buy a small amount of the bargain. If the 1101 contract increased steadily at 16400 yuan / ton, it could increase more holdings, otherwise it would insist on more than one side.

(Wanda futures Du Ying)

Five consecutive days of rising internal and external spreads narrowed

Last night, the international market as a whole plunged into a pattern of sideways shocks, of which gold and crude oil fell more sharply. Most other commodities went up and down slightly. ICE cotton picked up after picking up 76 cents and continued to rise for fifth consecutive days, approaching 77 cents.

　　隔夜国际市场公布的消息面喜忧参半，其中美7月消费者信心指数为50.4，创下了今年2月以来新低，明显低于6月的54.3(向上修正值)，而5月的标普/凯斯-希勒(Case-Shiller，简称CS)20个大城市房价指数环比增长1.3%，同比增长4.6%，包括市场近期关注的重点公司财报超预期向好，中国方面，中国人民银行发布《2010年二季度中国宏观经济形势分析》报告，称对中国经济的发展趋势仍持谨慎乐观看法，未来中国经济放缓趋稳的可能性较大，但出现二次探底的可能性不大，从中国股市走势的近期指标意义来看，2600点关口面临重要选择，包括对大宗商品市场的影响;棉花基本面来看，似乎变化不大，短期登记库存不足、美棉新年度签约出口良好，继续推动期价，经历昨日ICE期棉上涨，中国期棉下跌，内外盘价差回归至32左右，至此从高点37目前已经回落5个点，套利利润丰厚。

Cotton futures are slowing down, and short-term adjustment is expected.

On Tuesday, the ICE cotton futures contract opened at 76.50 in December and fluctuated between 76.00-76.70 and us. Investors expected that the supply of cotton would remain low. Therefore, the purchase of the cotton market rose, and the cotton futures closed at 76.70 cents, a slight increase of 0.21 cents, reaching 0.27%.

In December, the US cotton technology star crossed the Yang line star, and closed on the 30 day moving average. Under the 60 day moving average, it closed for 5 consecutive days. Technically, after a big line, it crossed a K-line, indicating that there was a sign of weakness or hesitation in the bull's confidence. The rally was temporarily blocked, and the adjustment or fall in the short run would be delayed in the short term.

In terms of fundamentals, the US cotton planting situation is still in good condition. The crop growth report suggests that the United States may harvest ahead of schedule, but the sales channel is expected to remain empty in November.

On the domestic side, yesterday's sharp decline in the stock market yesterday, to a certain extent, to combat the enthusiasm of the bulls, may be the reason for raising the margin ratio in advance, while the forward contracts also fell in September with the September.

In January, the 16500 resistance level just stood, that is, the sharp fall, and the weak point in the late market fell by 155 points.

As the US cotton rally is slowing down, Zheng cotton will not be able to return to the rally today, and the probability of weak shocks in the 16000-16200 area is too large.

Operation, the empty list can continue to hold, less than 16000 can be added to the empty list.

(Changjiang futures Wang Jian)

Short term factors can hardly be changed in the mid-term downward adjustment of cotton market.

ICE cotton futures rose slightly on Tuesday. In October, the contract rose 23 points, closing at 81.54 cents. The most active December contract rose 21 points, closing at 76.70 cents.

Recently, the volume of cotton available for deliveries continued to decrease, and the supply of cotton in the near future remained low. Due to this factor, the market's near forward contracts were reversed, and this spot also appeared on Zhengzhou cotton futures, which supported the recent high cotton prices and rebounded.

Peripheral peripheral commodity market performance is weak, it is expected that this situation will continue, and new cotton will soon be listed, which will restrict the rebound of ICE cotton futures.

Domestic cotton yesterday fell sharply in 1009 months, and the paction will raise the margin substantially in recent years, so that the problem of "forced storage" can be solved. If the position can not be substantially reduced, further measures are expected.

In addition, the country began to discuss the issue of throwing and storing cotton, which is expected to be implemented.

But in the near future, cotton is unlikely to continue to fall significantly. In September, contracts still face a shortage of warehouse receipts and no goods can be delivered. After that, there will be speculation about weather factors. But excluding the weather factors, the spot market is expected to continue downward, and the contract after the September contract of Zheng cotton futures is also expected to continue to fall.