October 08, 2020 at 03:45PM
• Cotton rising inside impulse waves (iii) and 3
• Likely to rise to 68.90
Cotton continues to rise inside the short-term upward impulse wave (iii) of the medium-term upward impulse 3 from the start of August.
The impulse 3 belongs to the longer term upward impulse sequence (C) from the end of July.
Given the strong multi-month uptrend – Cotton is likely to rise further toward the next resistance level 68.90 (former monthly high from February).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/cotton-wave-analysis-8-october-2020-20201008/
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