Cotton No 2
Cotton No 2 market insights
Pivot points are a technical indicator that traders use to predict upcoming areas of technical significance, such as support and resistance. They're calculated by averaging the high, low and closing prices of a previous period. That could be a day, a week or a month.
If a market is trading above its previous pivot point (known as P), it is seen as a bullish signal. If it is below, it is bearish.
Support and resistance levels are a core part of technical analysis, providing crucial insight into possible future price reversals.
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Cotton No 2 details
Cotton is the primary textile for clothing production but has extensive uses in home furnishings and medical supplies. Cotton production requires a warm, semi-arid climate and large amounts of water.
Cotton No 2 is the name of futures contract that is considered the benchmark for all futures and options contracts traded on the New York (NYMX) and Chicago Mercantile Exchanges (CME). The market is used as the benchmark contract for all global cotton markets. The contract size for cotton is 50,000 pounds, approximately 100 bales of the soft commodity.
The biggest cotton producers are China, India and the United States, with the United States accounting for 40% of all cotton exports.
| Margin from | 20.0 % |
| Min trade size | 1 |
| Long | 0 |
| Short | 0 |
| Min stop distance | 0.0 Points |
| Guaranteed order minimum | 0.1 Points |
Spreads
| Spreads from | 10.0 Points |
Margins
| 0 + | 20.0 % |
Dealing
| Spreads from | 10.0 Points |
Margins
| 0 + | 20.0 % |
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