Led by a strong December that rallied 264 points to close at 68.09 cents, New York cotton futures trended higher this week.
Nearby supply worries and positive chart signals combined for a strong performance in the cotton market this week, pushing December to its highest close since July 23.The spot month crossed above its long-term downtrend line dating back to early May, when the current bear market originated. In doing so, it also moved above its 20-, 40- and 50-day moving averages and turned