Cotton Futures Trade Signal Alert for Feb 01st

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Here is my March Cotton futures trade signal alert for the day of Feb 01st only. Sell stop entry signal below 76.50 and first stop loss above 78.20 123.65. Targets at 74.00, 72.00,70.00 and 68.00 If filled on a signal then each day I will move my protective stops to limit losses until I exit the position. I do not update my stop losses on this free service. A simple way to determine stop loss points is to use the 9 and 18 exponential averages.

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“Cotton was lower once again on follow through selling. The selling seemed to be mostly long liquidation. The weekly charts suggest that a bigger correction might be coming as futures could work lower in the short-term to find new demand. If so, the downside could be limited if the US Dollar keeps working lower. However, the charts suggest that prices could move to 7500 March before finding significant new buying. Current buying has been reflecting the fact that merchants need to buy futures to cover on call positions….”

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