Cotton: The uptrend may be expected to continue
|This/Next Week Forecast (January 18 – 22, 2021)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 78.50, which will be followed by reaching resistance level 85.00.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 78.50, which will be followed by moving down to support level 71.00.
Previous week forecast
Fundamental Analysis
Difference between supply and demand showing fair price on the level 66.
Monthly forecast, January 2021
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 78.50, which will be followed by reaching resistance level 85.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 71.80 , which will be followed by moving down to support level 67.00 and if it keeps on moving down below that level, we may expect the market to reach support level 57.10.
Previous month forecast
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