Cotton recently broke the resistance area lying at the intersection of the strong round resistance level 70.00 (monthly high from June) and the resistance trendline of the daily up channel from August.
The breakout of this up channel coincided with the breakout of the 61.8% Fibonacci correction of the previous weekly downward impulse wave (5) from last April.
Cotton is likely to rise further toward the next resistance level 72.00 (likely price for the completion of the active impulse wave 3).
- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…
- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
This website uses cookies
