Cotton Weekly Forecast, August 24 – 28

Cotton Price Forecast For This/Next Week
(August 24 – 28, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 64.15, which will be followed by reaching resistance level 67.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 64.15, which will be followed by moving down to support level 61.60 and if it keeps on moving down below that level, we may expect the market to reach support level 59.60 – 58.55.

Chart Cotton This/Next Week Forecast, Technical Analysis
chart: cotton market outlook, technical analysis

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

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

Uptrend scenario
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.

Downtrend scenario
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.

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

Cotton futures market Ending Stocks/inventory World with US
chart: cotton futures ending stocks, inventory world with US

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