After reaching support level
at 82.80 (April,24) Cotton
formed a nice wave back to the 20EMA. Monday (May,20) outside day can be the sign that consolidation is over and the downtrend ready to resume towards 79.00-78.00. I'm planning to sell below the outside day low.
Major Lows culminating in early June (5/10/15 yr. seasonal
charts) and mid August (20/30 yr. seasonal