Cotton Price Forecast For This/Next Week
(August 17 – 21, 2020)
An uptrend will start as soon, as the market rises above resistance level 63.15, which will be followed by moving up to resistance level 65.05.
The downtrend may be expected to continue, while market is trading below resistance level 61.3, which will be followed by reaching support level 59.6 – 58.5.
chart: cotton market outlook, technical analysis
previous week cotton price forecast chart
Cotton Price Forecast 2020, Long-Term
(Quarter III: July – September, 2020)
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.
An 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.
chart: cotton technical analysis, market outlook
Cotton Price Prediction
According to Fundamental Analysis difference between supply and demand do not show market imbalance and determine the fair price at the level $62.
Further price fluctuation will be determining by price technical analysis.
chart: cotton futures ending stocks, inventory world with US