🧵✨ Cotton Futures (CTH2026) — Market Snapshot
📉 Trend: Range Bound
💵 Global cotton production was slashed by nearly 300,000 bales to 119.79 million bales.
🌍 Weaker energy prices & firmer U.S. dollar.
📊 Technical Indicator: 🔁 Fibonacci Retracement
🐦 The moving averages (MA20 ≈ ~63.26¢, MA50 ≈ ~63¢) act as near-term resistance. Breaking below the 50-day MA head towards previous support (~62.74¢).
💰 Support: 🟢 62.09 USD/lb
🎯 Caution: Cash trades at 61.5 vs. March futures at 63.75, leaving a 2-cent gap.
💵 Resistance Zone: 🔴 65.75 – 66.00 USD/lb (Short term 64.52 USD/lb)
📉 A potential profit-taking area or range-top resistance for short-term traders.
📊 Open Interest: 📄 183.45K contracts
🪙 Indicates active participation, with both speculators and hedgers positioning amid market weakness.
🧶 Future Type: 🌾 Cotton (CTH2026)
📍 Traded on the Intercontinental Exchange (ICE US) — the global benchmark for cotton pricing.
It’s a caution that the information provided is for knowledge purposes only and should not be taken as a recommendation to buy or sell assets.
