Cotton

Cotton has found support the past 3 days at the rising window from the gap up made back on March 18th.  You also have a 5 point upward sloping trendline in the same area, which also happens to be the neckline of the possible H&S top that maybe forming.  Friday found some negative trading: new highs on selling.  This rising window/neckline area will be a key area this coming week.  If we can get a break below 192.23 on Monday you could see a good move lower.  This move would be made with a pivot of less than 50%, which is bearish AND with a 2:1 skew, which is also bearish.  Initial support would be seen around the 183.00-186.00 area.  This zone features horizontal support, the double top tgt, monthly and weekly pivot point support and a 50 DMA.  I could see a move to this area and then a possible retest of the neckline.  Let's see how this week plays out.