Cotton Weekly Forecast

This/Next Week Forecast (October 5 – 9, 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 71.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 67, which will be followed by reaching support level 63.80 and if it keeps on moving down below that level, we may expect the market to reach support level 61.60 and 57.10.

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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