September 01, 2020 at 03:36PM
• Cotton reversed from key support level 64.50
• Likely to rise to 66.35
Cotton recently reversed up from the key support level 64.50 (former strong resistance level, which reversed the price at the start of June and July).
The upward reversal from the support level 64.50 started the active short-term impulse wave (iii).
Cotton is likely to break above the next resistance level 66.35 (top of wave (i)) – with further gains likely toward 68.9 (target price for the completion of the active impulse wave (iii)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/cotton-wave-analysis-1-september-2020-20200901/
Selected by fonecable.com
- NEWS: Weekend – US fuel pipeline operator Colonial Pipeline cyberattack forced shutdown of its fuel network May 09, 2021 at 10:32PM
- NEWS: Weekend news – Iran says it will extend its (nuke) deal with the IAEA if needed May 09, 2021 at 10:25PM
- NEWS: Economic calendar due from the Asian session ahead – Monday 10 May 2021 May 09, 2021 at 09:37PM
- NEWS: NZ finmin Robertson speaking – says economic recovery better than expected May 09, 2021 at 09:20PM
- NEWS: Weekend – ECB’s Rehn wants the Bank to adopt the Fed’s inflation target approach May 09, 2021 at 09:16PM