December cotton futures a selling opportunity on more price weakness.

See on the daily bar chart for December ICE cotton futures that prices have backed well down from the recent high, to form a bearish double-top reversal pattern. The bears have gained downside technical momentum to suggest still more downside price pressure to come. A close below solid chart support at 85.00 cents would become a selling opportunity. The downside price objective would be 80.00 cents, or below. Technical resistance, for which to place a protective buy stop just above, is located at 87.00 cents.

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