Cotton ready to Break-Out on Supply and Demand News
Eric Scoles of RJO Futures - - Thu Oct 10, 9:02AM CDT

Dec 19 cotton futures have been in consolidation since the last breakout-and-correction in mid-September. With increasing concerns on production, cotton prices have been leaning bullish in momentum through this consolidation channel, and Todays USDA report is anticipated to support the bulls. There has been some recent optimism going into this next round of US/China trade talks with hopes of a partial deal, which could offer additional fuel for rising prices if the USDA report confirms supply issues and stable demand. Production estimates have been in decline due to weather this season and some suggest it could be worse than anticipated. If upcoming news and reports are bullish we could see cotton not just break out, but start a more sustained bull run. To learn more about chart patterns and how to use them you may download our free Technical Analysis Trading Guide here, Or click the link below.

Cotton Ready to Breakout