Cotton (CT) Exhibits Positive Divergence on Weekly RSI, MACD

Cotton has been making an admirable bottoming attempt in the last few weeks, having seen a surge in volume unmatched in the prior rally attempts over the last several months. Positive divergence between weekly RSI/MACD and price continues providing bulls reason to push cotton towards its current downchannel resistance. With weekly RSI, Stochastics and MACD all sloping upwards, and higher than during any rally attempts over the last several months, a break above current downchannel resistance may not be far off.

For my multiple timeframe analysis on Cotton, feel free to visit tradablepatterns.com/tag/ct_f/.

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