01st Aug - Cotton Holds Above Key Support For Now
01 August 2013
MONTHLY CHART – CONTINUATION:
Earlier drop back in prices brought the chart back within the range of the previous decade.
Recovery has been attempted, initial resistance coming from the Mar-08 high area. Next interesting resistance here doesn’t come until the 23.6% rebound level just above 104.00.
DAILY CHART – Dec-13:
After a new 2013 high (was the Jun spike a final blow-off move?) the market pulled back, to consolidate above the first rising support line (runs through 84.00 currently).
Probably more key at this stage is the area of the 38.2% retracement, 82.35, and 81.72 03-Jun low. A break below this would imply a more prolonged corrective phase.
Next story:
02nd Aug - AUD/USD Breaks Long Term 38.2% Support 
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25th July - Watch the Gilt fall further still