A slow down? After four days of going up, Cotton is flat today, hovering around $82.05.

The Cotton future trades at $82.05 per pound, after ending today at $82.11.

United States's Crude Oil Inventories new data released of -3.83 million below its previous figure.

Uncertainty around Cotton is reflected by published market data as United States Crude Oil Inventories published today at 15:00 UTC came out at -3.83 million, falling short of the 1.87 million projections and continuing its decline from the previous 7.92 million figure. United States Existing Home Sales (May) released today at 14:00 UTC with a figure of 4.3 million, while the previous figure was 4.29 million. New United States Initial Jobless Claims data fell short of the 260,000 projected by analysts with a reading of 264,000 while failing to improve upon the previous reading from last month (264,000).

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Cotton's upper Bollinger Band® is at $86.24 and the lower is $80.79.

Overall, the technical outlook suggests Cotton is likely to remain muted for the immediate future, with no clear-cut direction.

Meanwhile, mixed performances are seen in other Softs as Sugar is down 82 cents from the beginning of the session and now trades around $25.03. Cocoa closed at $3,204 (down 1.02%). After ending today's session at $172.25, Coffee lost $2.35 and is trading around $169.9.

Moreover, United States Services PMI figure is projected at 54. It previously stood at 54.9; data will be released tomorrow at 13:45 UTC.

Trading mostly sideways for 3 months. Cotton has shed $61.27 points and is languishing 42.73% lower over the past year, leaving its yearly highs around $143.32 in the rear-view mirror.