Cotton Wave Analysis 8 October, 2020

• Cotton rising inside impulse waves (iii) and 3

• Likely to rise to 68.90

Cotton continues to rise inside the short-term upward impulse wave (iii) of the medium-term upward impulse 3 from the start of August.

The impulse 3 belongs to the longer term upward impulse sequence (C) from the end of July.

Given the strong multi-month uptrend – Cotton is likely to rise further toward the next resistance level 68.90 (former monthly high from February).