This/Next Week Forecast (November 9 - 13, 2020)
Uptrend scenario
The uptrend may be expected to continue in case the cotton market rises above resistance level 71.80*, which will be followed by reaching resistance level 75.40.
Downtrend scenario
A downtrend will start as soon, as the cotton market drops below support level 67.00, which will be followed by moving down to support level 63.80 - 61.60.
(Click on image to enlarge)
Previous week cotton price forecast chart
(Click on image to enlarge)
Fundamental Analysis
Difference between supply and demand showing fair price on level 62.
(Click on image to enlarge)
Long-Term Forecast (Quarter III: July - September, 2020)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 72.45, which will be followed by reaching resistance level 78.50.
Downtrend scenario
A downtrend will start as soon, as the cotton market drops below support level 67, which will be followed by moving down to support level 57.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.