Cotton Wave Analysis 11 March, 2021
March 11, 2021 @ 19:03 +03:00
• Cotton reversed from support level 83.04
• Likely to rise to resistance level 89.06
Cotton recently reversed up with the daily Piercing Line reversal pattern from the key support level 83.04 (former monthly high from January).
The support zone near the support level 83.04 was strengthened by the lower daily Bollinger Band and by the upper trendline of the recently broken up channel from last April.
Cotton is likely to rise further toward the next resistance level 89.06 (top of the previous Doji from the start of this month).