Short opportunity for Cotton on Weekly Chart.It looks like cotton is going to take yet another dive. Not sure how far this can go though before hitting negative territory.
CTNUSD trade ideas
Looking to get long with cottonlet's see what happens next, the recent sold off seems quite overreacted imo from a technical perspective.
COTTON Weekly Chart Low risk LONG Good support in the 77's on multiple time frames just tested middle bollie on the Weekly
COTTON (COTUSD)After a thorough analysis, numerous bat patterns were discovered in the historic data of cotton. It is anticipated that a bearish bat pattern is about to complete, currently in the CD leg. The entry point is expected to occur at 0.7740. Stop loss is 0.7793, 113% extension of XA. Profit targets will be at 0.7581 and 0.7484 which are the 38.2% and 61.8% retracements of AD.
