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.
previous week cotton price forecast chart
Fundamental Analysis
Difference between supply and demand showing fair price on the level 63.
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.
