The chart below was published on July 12th (see post here) reflecting a 50% decline in Cotton had taken place over the past few months.
I wanted to update the Cotton chart because it is fast approaching potential support prices cited below.
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Below is an update to the above chart, reflecting that Cotton has continued to decline, yet it now is approaching potential price support points targeted in the above chart.
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Cotton is fast approaching levels cited a couple of weeks ago, that aggressive investors could consider picking up some BAL, with stops below key support.
This is a very fast moving ETF…buying this fast moving ETF should only be done if you are an aggressive investor!