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June 18, 2023
An 11 day downtrend has resulted in the asset losing $3.87. A slight improvement can be seen from Friday's session: the Cotton future moves 0.15% to close at $82 per pound Friday.
Cotton's upper Bollinger Band® is at $86.48 and the lower is $80.41.
Despite muted price action in Cotton, chart analysis indicates it is positioned for a bullish run in the short term.
While the Cotton future was pretty flat Friday, mixed performances were seen elsewhere as Sugar goes up 1.4% Friday and closed at $25.63. Cocoa retreats 0.64% Friday and closed at $3,262.
Trading mostly sideways for 3 months. 11 months ago Cotton reached a significant high of $143.51 but has consequently lost 42.94% since then.
