Cotton recently reversed down from the resistance area lying between the resistance level 57.20 (which stopped the sharp downtrend in August of 2019), upper daily Bollinger Band and the resistance trendline of the daily up channel which enclosed the previous ABC correction (2).
The downward reversal from this resistance area started the active medium-term impulse wave (3).
Cotton is expected to fall further toward the next support level 52,00 (which started the C-wave of the the earlier ABC correction (2)).
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
This website uses cookies
