Interesting charts March 23rd 2015
Cotton posted its first higher reaction low in a year last week and a sustained move below 60¢ would be required to question current scope for additional upside.
Portugal found support in the region of its 2008 low from January and continues to extend its rebound. There is potential for some consolidation but a sustained move below the 200-day MA would be required to question potential for additional upside.
Copper is unwinding its oversold condition relative to the 200-day MA. It will need to sustain a move above 290¢ will be required to signal a return to demand dominance beyond short-term strength.
