Weekly Forecast (August 31 - September 4, 2020)
Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 63.15, which will be followed by reaching resistance level 67.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 63.15, which will be followed by moving down to support level 61.30 and if it keeps on moving down below that level, we may expect the market to reach support level 59.60 - 58.55.
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Previous week cotton price forecast chart
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Cotton Price Prediction
According to the fundamental analysis difference between supply and demand shows an oversold market and the fair price at the price level of $67.
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Cotton Price Forecast 2020, Long-Term (Quarter III: July - September 2020)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 67, which will be followed by moving up to resistance level 78.5 and if it keeps on moving up above that level, we may expect the market to reach resistance level 94.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 57.1, which will be followed by moving down to support level 50.
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