10.24ICE Cotton Rose &Nbsp; Investors Follow Up Buying Support.
ICE cotton rose 24 days, extending from last week's 14 month low after the rebound trend, driven by investors to follow up buying.
Comprehensive media reported on October 24th, Intercontinental Exchange (ICE) cotton rose 24 days, subject to
Investment
They followed up buying support, and analysts said that cotton futures last week (October 22nd week) hit a rebound after the 14 month low.
The ICE index rose 0.84 cents in December cotton and closed at $0.9794 / pound, with a range of 0.9696 US dollars / pound to 0.9839 dollars / pound.
The December contract broke for the first time in about four weeks, breaking through the trading range of 0.98 US dollars to 1.04 dollars per pound.
Famous media preliminary data
display
On the 24 day, the turnover exceeds 12000 hands, which is about 10% lower than the 30 day average.
Independent cotton analyst Stevens (Mike Stevens) pointed out that cotton could not hold above $0.98 / pound, which means it would drop to a new support level near $0.93 / pound.
ICE data show that as of October 21st,
cotton
The open market contract was 157290 hands, and 156328 hands in October 20th.
The outstanding position is the highest level since the beginning of June.
ICE data also showed that 21 cotton turnover was 15069 hands, the previous day was 22529 hands.
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