Cotton Wave Analysis – 26 March, 2019

Cotton rising inside wave (c)
Further gains are likely

Cotton continues to rise inside the wave (c) of the short-term ABC correction 2 from the middle of February.

The price earlier broke though the resistance area lying between the key resistance level 75.00 and the resistance trendline from the end of July.

Cotton is expected to rise further and re-test the next round resistance level 80.00 (target price for the completion of the active correction 2).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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