NY #11 Front Month Contract continues its uptrend

The recent pullback from 15.50 resistance did shake out some players but the fundamental story remains the same (Lower production on the softs though a risk of Indian Exports continues to hound the market. Actually, buying near the lower end of the channel for the past couple of days with a wide stop and proper sizing would enable a trader to catch and on to it as it attempts to try to breach the 15c level. The next resistance level seen in the chart is around 15.50 and the next would be 16c.