• Cotton broke the pivotal resistance level 87
• Likely to rise to resistance level 91,00
Cotton recently broke the pivotal resistance level 87,45 (which stopped the previous minor impulse waves 1 and (i) at the start and at the end of June).
The breakout of the resistance level 87,45 coincided with the breakout of the 61,8/% Fibonacci correction of the ABC correction (2) from April – which accelerated the active minor impulse waves 3 and (iii).
Given the prevailing uptrend – Cotton can be expected to rise further toward the next resistance level 91,00 (which stopped impulse wave (1) at the end of April).
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
Bitcoin finds support near the 50-day moving average, but further declines in the stock market…
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
This website uses cookies