Is the bullish run coming to an end? Cotton down to $80.25 (-0.19%)

During a 3 day uptrend, ICE Cotton gained a total of $1.88, or 2.2%. Bucking the trend and turning lower, ICE Cotton is down to $80.25 per pound, after ending yesterday at $80.4. Overall, a 0.19% loss or 15 cents today.

Pending Home Sales in United States fell short of market expectations (0.5%) with a reading of -5.2%, continuing the decline from the previous figure of 0.8%. United States GDP published yesterday at 12:30 UTC came out at 1.1, falling short of the two projections and continuing its decline from the previous 2.6 figure.

On the flip side, positive data for Cotton released earlier when highly important Initial Jobless Claims data from United States beat analyst expectations of 248,000 with a reading of 230,000.

Bollinger Bands® shows an indication of recovery: the lower band is at $78.36, a low enough level to, generally, suggest that Cotton is trading below its fair value.

Despite suffering losses in today's session, technical analysis is indicating that Cotton will undergo a significant bounce in the immediate term.

Taking a look at other Softs commodities, negative performances are evident as Coffee slumps 1.57% to trade around $188.6.

Though ICE Cotton has been dropping, other Softs have been performing better: Sugar gained 2.44% and is now trading at $26.41.

Furthermore, United States Core PCE Price Index (MoM) (Mar) scheduled to come out today at 12:30 UTC.

The commodity has been trending lower for about 4 months. Having set a significant high of $154.89 11 months ago, Cotton is trading 48.09% lower.