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

On a 3 day uptrend, Today's session might suggest a slow down — the Cotton future trades at $83.23 per pound, after ending Thursday at $83.2.

Cotton's upper Bollinger Band® is at $86.24, suggesting that a downward move may follow.

Despite the market lacking direction, technical chart analysis strongly suggests the Cotton future is positioned for a downward move in the near term.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 16:00 UTC.

Trading mostly sideways for 3 months. Having set a significant high of $154.89 11 months ago, ICE Cotton is trading 46.28% lower.