Bearish Pressure Builds on Cotton: Strategic Levels to Follow

Cotton price is trading in a descending channel, signaling continued bearish momentum. A potential breakout below minor support suggests further downside ahead.

Analysis:

Current Price Action: Cotton is at 66.62, near minor support, with a potential break signaling further bearish continuation.

Key Levels: Resistance at 67.80–68.00; major support around 62.00 at the channel's lower boundary.

Projection: Sellers could push prices to 61.99, while a retest of 68.00 may confirm the bearish setup if rejected.

Trend Outlook: The downtrend remains unless prices break above the channel resistance.

Keep an eye on the evolving trade scenario.