Muted session threatens to disturb the Cotton future's ongoing uptrend

While Cotton is on a 3 day bullish trend, Today's session might suggest a slow down — the Cotton future trades at $81.42 per pound, after ending yesterday at $81.37.

Cotton's upper Bollinger Band® is at $86.53 and the lower is $79.25.

Despite muted price action in ICE Cotton, chart analysis indicates it is positioned for a bullish run in the short term.

Moreover, projections for United States Retail Sales are set for a continuation of decline with -0.3% while previous data was 3%; data will be released today at 12:30 UTC. United States Core Retail Sales projected to come out at -0.1% — worse than previous data of 2.3%; data will be released today at 12:30 UTC. United States Producer Price Index expected to decline to 0.3% while its preceding data was 0.7%, data will be available today at 12:30 UTC.

The commodity has been trending lower for about 2 months. Having set a significant high of $154.89 10 months ago, the Cotton future is trading 47.47% lower.