NEW YORK, Nov 15 (Reuters) - Cotton futures closed higher Tuesday on technically inspired investor buying and the momentum from the advance could lift fiber contracts in the days ahead, analysts said.

The spot December cotton contract on ICE Futures U.S. increased 1.87 cents or by 1.8 percent to finish at $1.0266 per lb, moving from $1.0011 to $1.0469.

The now most-active March cotton futures went up the 4.00 cents daily limit, or over 4 percent, to settle at $1.0062 a lb, with the day's low at 96.57 cents.

Total volume traded Tuesday hit over 32,100 lots, more than two-thirds above the 30-day norm, preliminary Thomson Reuters data showed.

"It's technical (buying). It's almost textbook in the way it took off," said Mike Stevens, an independent cotton analyst in Louisiana.

The December contract quickly raced past the 40-day moving average at $1.0004/05 and is now poised to challenge the 100-day MA at $1.0722, Thomson Reuters data showed.

Stevens said market is still trading a very wide band running from the October top of $1.0505 and down to the November low of 95.96 cents.

Market players continued to talk about next week's delivery period in the December contract and the strong likelihood that a major cotton merchant will be the main player when first notice day rolls around on Nov. 23.

Open interest in cotton, usually taken as an indicator of investor exposure, stood at 146,914 lots as of Nov 14, from the prior tally of 145,304 lots, exchange data showed.

Total volume traded Monday reached 41,118 lots, the highest level traded since June 10, ICE futures U.S. data said.