March cotton (CTH26) futures present a selling opportunity on more price weakness.

See on the daily bar chart for March cotton futures that prices have been trending lower for months, recently hit a contract low, and the bears have the firm near-term technical advantage. 

Fundamentally, China, a major cotton importer, has been shunning the U.S. fiber for months. Also, global consumer demand trends for apparel are shifting, with synthetic fibers becoming more popular as well as being less expensive than U.S. cotton.

A move in March cotton futures below chart support at 64.00 cents would give the bears fresh power and it would also become a selling opportunity. The downside price objective would be 60.00 cents, or below. Technical resistance, for which to place a protective buy stop just above, is located at 66.00 cents.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 

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