The Cotton future up 41 cents to $81.21 building up on its four days of gains

After closing the previous trading day at $80.8, ICE Cotton is up to $81.21 per pound, which makes for a move of 0.51%/41 cents today.

Cotton's lower Bollinger Band® is at $78.39, indicating that the market is oversold and fertile for new buyers.

Overall, looking at the technical analysis landscape, it seems Cotton might continue pointing upwards in the short term.

This rally in ICE Cotton's price coincides with other Softs as having closed the previous session at $2,924, Cocoa is up 0.41% today to currently trade at around $2,936.

At the same time, Coffee is down $2.45 from the beginning of the session and now trades around $185.75.

Furthermore, the market is looking at United States JOLTs Job Openings (Mar) is scheduled for tomorrow at 14:00 UTC. United States ISM Manufacturing PMI (Apr) will be released today at 14:00 UTC.

The commodity has been trending lower for about 4 months. Approximately 11 months ago, ICE Cotton reached a significant high of $154.89 but has struggled to hold onto its gains and declined 47.83% since then.