July Cotton Futures a Buying Opportunity on Fresh Strength
See on the daily bar chart for July ICE cotton futures that prices this week have made a rebound from the recent low, and a bullish double-bottom reversal pattern has formed. The bulls would gain fresh upside momentum by pushing prices above resistance at 87.00 cents. That would also become a buying opportunity. The upside price objective would be 90.00 cents, or above. Technical support, for which to place a protective sell stop just below, is located at 85.50 cents.
