Cotton broke the round support level 60.00 (which stopped the weekly downward impulse wave (1) in the middle of June)
The breakout the support level 60.00 continues the active medium-term impulse wave (3) – which belongs to the longer-term downward impulse sequence ③ from April.
Cotton is expected to fall further and retest the next major support level 55.00 (which stopped the weekly downtrend at the start of 2016).
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