This/Next Week Forecast (October 12 - 16, 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 69.30, which will be followed by moving down to support level 67 and if it keeps on moving down below that level, we may expect the cotton market to reach support level 61.60.

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Previous week cotton price forecast chart

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Fundamental Analysis

Difference between supply and demand showing fair price on level 62.

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Long-Term Forecast (Quarter III: July - September, 2020)

Uptrend scenario

An uptrend will start as soon, as the cotton 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 cotton market to reach resistance level 94.

Downtrend scenario

A downtrend will start as soon, as the cotton market drops below support level 57.1, which will be followed by moving down to support level 50.

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