Cotton Wave Analysis – 24 August, 2020

• Cotton broke key resistance level 64.60

• Likely to rise to 66.50

Cotton recently broke the key resistance level 64.60 (which stopped the two previous waves (A) and 1, as can be seen below).

The breakout of the resistance level 64.60 should accelerate the active impulse waves (iii), 3 and (C).

Cotton is likely to rise further toward the next resistance level 66.50 (target price for the completion of the active short-term impulse wave (iii)).