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The Cotton Row Journal, week of 1 - 5 March | MrTopStep com LLC

The Cotton Row Journal, week of 1 - 5 March | MrTopStep com LLC
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The Cotton Row Journal, week of 28 Dec - 1 Jan

Tech only today, provided by Dave Toth, RJO. Although the market hasn t taken out 17 Dec 7741 high yet, the extent of the past week s recovery is sufficient to define 22 Dec 7428 low as one of developing importance and our new short term risk parameter from which shorter term traders with tight risk profiles can objectively rebase and manage the risk of still advised bullish policy.  The 240 min chart shows the market s acknowledgement and rejection of an area of former 7427 resistance turned support following 10 Dec break above 23 Nov 7427 high and resistance and the 50% retrace of Decs 7107-7741 portion of this year s major uptrend.

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