Cotton Wave Analysis – 18 June, 2020
June 18, 2020 @ 17:50 +03:00
• Cotton rising inside corrective wave 2
• Likely to reach 62.20
Cotton recently reversed up from the support level 59.00 (former strong resistance from the middle of May).
The upward reversal from the support level 59.00 started the active short-term corrective wave 2. Cotton is likely to rise further toward the next resistance level 62.20 (top of the earlier wave (2)) – the breakout of which can lead to gains toward the next resistance level 64.00.