Friday at a glance: the Cotton future increases 2.81% to close at $84.06 per pound Friday.
Cotton's upper Bollinger Band® is at $85.21, this is a slight indication of a slowdown.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest the Cotton future is set for a reversal in the coming days.
Rallies can also be seen in other Softs, Sugar went up by 3.61% Friday, and closed at $26.44. Coffee jumps 2.73% Friday and closed at $182.95. Cocoa moves up 1.24% Friday and closed at $2,904.
Trading mostly sideways for 4 months. The Cotton future has fallen back around 45.73% from the significant high of $150.65 set 11 months ago.