Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planking trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
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Cotton futures eked out a gain of 12 to 26 points today. The US stock market had its largest gain since 2011, transferring some positive economic vibes to potential 2015 demand. Cotton cert stocks dropped to 55,852 bales, with 2008 new certs issued on December 17 but 2,200 bales withdrawn. The weekly USDA Export Sales report showed 133,700 running bales of upland cotton were sold last week, along with 4,800 RB of pima types. The Chinese National Bureau of Statistics indicated the production there was 28.297 million stat (480 pound) bales, which is below the 30 million figure used by WASDE this month.