Cotton Wave Analysis – 1 September, 2020

• Cotton reversed from key support level 64.50

• Likely to rise to 66.35

Cotton recently reversed up from the key support level 64.50 (former strong resistance level, which reversed the price at the start of June and July).

The upward reversal from the support level 64.50 started the active short-term impulse wave (iii).

Cotton is likely to break above the next resistance level 66.35 (top of wave (i)) – with further gains likely toward  68.9 (target price for the completion of the active impulse wave (iii)).