Cotton Weekly Forecast

This/Next Week Forecast (November  9 – 13, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level71.80*, which will be followed by reaching resistance level 75.40.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 67.00, which will be followed by moving down to support level 63.80 – 61.60.

Chart Cotton This/Next Week Forecast, Technical Analysis

previous week cotton price forecast chart
Chart Cotton This/Next Week Forecast, Technical Analysis

Fundamental Analysis

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

Cotton futures market Ending Stocks/inventory World with US

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
An downtrend will start as soon, as the market drops below support level 67, which will be followed by moving down to support level 57.

Cotton futures market forecast for this/next week, technical analysis and outlook

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