Cotton put in a strong effort today – up 1.21, on a day when many of the softs were down – so I perused the short and long term charts for May futures.
Looks like cotton definitely has put in a double bottom, which is usually seen as a bullish indicator, and is rallying off its lows. If cotton breaks above its highs from earlier this year, we’ll be very interested in potentially taking a position here.
Source: BarChart.com
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