Consider Buying a Call Option on December Cotton Futures
See on the daily bar chart for December ICE cotton futures that prices are in a steep downtrend. However, the market is oversold, technically, as evidenced by a reading of 21.73 from the Relative Strength Index. Any RSI reading below 30.00 suggests a market is overdone on the downside. Remember, too, that most major bull and bear market runs always overdo the price trend. Consider buying a call option on December cotton futures, with an upside price objective of 76.00 cents, or above. The option expires in November.
