Cotton Looking More Bearish

Cotton Futures--- Cotton futures in the December contract settled last Friday in New York at 63.32 while currently trading at 62.00 as I’m now recommending a short position while placing your stop loss above the 10 day high which currently stands at 63.85 risking about 200 points or $1,000 per contract plus slippage and commission. Prices are trading below their 20 and 100 day moving average telling you that the short-term trend is to the downside as excellent weather in the southern part of the United States is increasing harvest activity bringing in ample supplies coupled with weak demand continuing to hamper prices.
The U.S dollar is up sharply this afternoon continuing its bullish momentum which is a negative towards commodity and cotton prices as the agricultural markets look very weak presently so continue to play this to the downside while taking advantage of any rallies as the risk/reward is highly your favor as excellent chart structure is allowing you to lower monetary risk.
The next major level of support is between 60/61 and if that is broken look out to the downside in my opinion as I tried shorting cotton several times over the last several months and have been unsuccessful so maybe the third time is the charm. TREND: LOWER–CHART STRUCTURE: EXCELLENT