Cotton Long
Cotton prices are severely depressed at the moment.
Opportunity for profit 6% Risk to 20% Reward - 1:3 RR profile.
Fundamentals:
Drought, pest attack hit yields in key producing regions resulting in 9 year low on production output
Imports 80% increase
Exports have plunged to 10-year lows
reuters.com/article/india-cotton-imports/indias-cotton-imports-to-surge-as-output-hits-9-year-low-trade-body-idUSL3N20229L
Opportunity for profit 6% Risk to 20% Reward - 1:3 RR profile.
- Entry Price and accumulation around 1.62
Stop Loss 1.56
Initial Take Profit January 2020, expect small seasonal retrace.
Final Take Profit June 2020 at 2.0
Fundamentals:
Drought, pest attack hit yields in key producing regions resulting in 9 year low on production output
Imports 80% increase
Exports have plunged to 10-year lows
reuters.com/article/india-cotton-imports/indias-cotton-imports-to-surge-as-output-hits-9-year-low-trade-body-idUSL3N20229L
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