Cotton continues to fall inside the short-term impulse wave 3 which started earlier from the resistance area lying between the key resistance level 67.45, upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous downward impulse from April.
The downward reversal from this resistance area started the active short-term impulse wave 3.
Cotton is expected to fall further and retest the next support level 60.45 (low of the previous sharp impulse wave 1).
- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…
- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…
Even though the Bank of Japan left the key rate and parameters of the QE…
Market picture Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…
- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…
- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…
This website uses cookies