Cotton.(AGRICULTURAL MARKETS)

Commodity Price Charts, November, 2005 by Roberts, Edward

Cotton March has recently violated support at its Sep UTL (.5552-.5594), which makes the Aug/Sep UTL (.5185-.5200) along with the filled Sep gap at .5185 its next downside target. CC below those levels targets the Aug low at .4980. CC above the late-Aug high at .5420 targets the Oct gap at. 5630. CC above there targets the Oct high at .5925. Note the USDA projected '05-'06 ending stocks at 6.5MM bales, which was below the average trade estimate of 6.93MM bales. This would seem to be bullish.

SYMBOL=CTK

MAY.06 COTTON (NYCE)

Each Horizontal Line = 50 Points

1 Pt. = $5.00 Minimum Move: 1 Pts.

FND: 4-24-06 LTD: 5-8-06

OPTIONS EXPIRE: 4-13-06

High Low

05/14/04 11/17/04

6662 4910...

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