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 ended the day with losses of about a quarter to almost a half cent, but showing a small gain from last Friday. As cotton prices have been strengthening, managed money added more than 13,500 contracts, taking their net long position to nearly 47,000. Crude oil futures were up $1.59 to $49.76 as this was written. The USD index stayed red for most of the day, but was above the 95.25. The AWP for the week of Feb. 27-March 5 is 49.48 cents and the loan deficiency payment is 2.52 cents, the lowest LDP since the end of October. USDA reports average spot quotations were 25 points higher in the week just ended than the prior week.