Technical analysis

Cotton Wave Analysis 27 April, 2021

• Cotton broke resistance level 88.30

• Likely to rise to resistance level 92.5

Cotton recently broke the pivotal resistance level 88.30 (top of the previous waves 4 and (B)) and the 61.8% Fibonacci retracement of the ABC correction from February.

The breakout of the resistance level 88.30 accelerated the active intermediate impulse wave (3).

Cotton is likely to rise further toward the next resistance level 92.5 (top of the previous minor correction 2 from the start of March).

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