Cotton and BAL ETF Are Forming a Major Bottom
Additionally on the push to new price lows in November there is a or non-confirmation in the large speculators net positions. This is a hallmark sign of the end of a trend based upon the data.
Additionally, the price of BAL is forming an or three push type pattern with declining intensity and momentum divergence. The set-up is exceptional for a long position here. There are several indicators that could be used for entry. A cross of momentum/ROC above neutral is one. Also based upon the chart, a close back above the June 2012 low, would be evidence that the stop running may be complete, and price is free to move up.
or diagonal patterns like this often lead to explosive moves, and it seems likely that price will rally above 46.00 on the first push up and take out any stops above the 9-12-14 high before a possible consolidation. However, that would be just the first push in a larger expected move of probable market proportions in coming months.