Cotton recently broke through the resistance area lying at the intersection of the key resistance level 77.30 (which reversed the price in March) and the 61.8% Fibonacci correction of the previous downward impulse from December.
The breakout of this resistance area accelerated the active short-term impulse wave 3.
Cotton is expected to rise further and re-test the next resistance level 81.00 (monthly high from December and the target price for the completion of the active impulse wave 3).
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
This website uses cookies
