Commodity Chart - Cotton Futures: Long Term Chart
Cotton Analysis - June 29, 2006
Cotton Futures - Cotton is an out of favor market that doesn't look like it has much potential any time soon. The price of cotton is currently trading in the low 50s. That is certainly low by historical standards. Cotton is one of the few commodity markets that is not in a bull market.
Outlook on Cotton Futures: There is an uptrend line in Cotton right now that puts support around 48-50. Holding that line and moving above 60 would like good on the charts. A break below 48 would not look good. That may cause more selling and prices could erode in the low 40s. That is exactly the area that I would look to buy for a long-term trade. Markets always come back, its just a matter of time.