{"id":105766,"date":"2017-05-08T09:59:45","date_gmt":"2017-05-08T13:59:45","guid":{"rendered":"http:\/\/countingpips.com\/?p=105766"},"modified":"2017-05-08T09:48:35","modified_gmt":"2017-05-08T13:48:35","slug":"cotton-technical-analysis-china-sells-cotton-from-state-reserves","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/05\/cotton-technical-analysis-china-sells-cotton-from-state-reserves\/","title":{"rendered":"COTTON: Technical Analysis – China sells cotton from state reserves"},"content":{"rendered":"
May 8, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

China sells reserves<\/strong><\/p>\n

China sells cotton from state reserves in the domestic market. Will the cotton prices<\/a> drop in the world market?<\/p>\n

On Monday, May 8, 2017, China sold at the auction 19. 9 thousand tonnes of cotton from state reserves in the domestic market. Theoretically, this may partially reduce the volume of imports. Previously, in Q1 2017, China imported 370 thousand tonnes of cotton, which is by 68% more than the same period of the last year. Note that auctions have been recently held regularly in China. Thus, on May 5, 21.3 thousand tonnes of cotton were sold.<\/p>\n

\"Cotton\"<\/p>\n

On the daily time frame, Cotton: D1<\/b> ended the uptrend and is correcting down. A further price decline is possible in case of a decrease in demand in China and deterioration of weather conditions if the El Ni\u00f1o cyclone develops.<\/p>\n