Gian mentioned cotton the other day.
On friday it made a decisive close to the downside closing at 94.77. It represented a 20 and 55 day low and I believe it triggered a turtle system short. However, in late July/early August cotton traded down to 93.50.
Cotton has been range bound for several weeks.
How would you trade this market right now? Does it make sense to accept the sell signal in light of perceived support just below this area? Would you wait for a close below 93.50?