Cotton Weekly Forecast, September 28 – October 2

This/Next Week Forecast
(September 28 – October 2, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 63.80, which will be followed by reaching resistance level 67 and if it keeps on moving up above that level, we may expect the market to reach resistance level 71.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 63.80, which will be followed by moving down to support level 61.60 and 59.60.

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 63.

Cotton futures market Ending Stocks/inventory World with US

Long-Term Forecast
(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

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