By
Sep 06, 2018 11:00 AM
December cotton finished lower with triple-digit losses. Speculators, disappointed by the less intensified Tropical Storm Gordon, liquidated long their positions. However, their selling was gated, as Wednesday’s action resulted in an “inside day.” That means the range of Wednesday was “inside” of that of Tuesday. Some traders see such patterns as indecisive indicators and may signal further sideways congestion. Yet, the market remains bearishly under the fundamental and technical guns of the trade.