March cotton futures present a selling opportunity due to recent price weakness. Prices have been trending lower, hitting a contract low. China, a major cotton importer, has been shunning U.S. fiber, favoring synthetic fibers. A move below chart support at 64.00 cents would give bears fresh power, with a downside price objective of 60.00 cents. Technical resistance is at 66.00 cents. Trading futures is volatile and risky. Jim Wyckoff does not have any positions in mentioned securities.

Read more at Yahoo Finance: The Bears Are in Control of Cotton. How Much Lower Will Prices Go?