The market is operating under the bullish influence of the reversal and outside day up from a one-year low on August 20th.
Outlook for significant battle for planted acreage and potential for tropical storm damage to supply this season are factors which helped to support the reversal.
Both Comm Channel and Parabolic had signal BUY for cotton.
Bought 1 lot of cotton Dec08 at 70.85
Stop level at 66.00
Target level at 77.00
Value of 1 point equals US$500