Cotton Need To Find BALANCE Position

5 Eyl 2022

Cotton was very volatile recently due to the effect of many factors (Dollar Index, Crop condition, Demand from Down Stream).

In general, Cotton need to find a balance points before any new update in the market.
If you are spinner, it is better to wait the Cotton find a new consolidation / balance period.

It can be 92 - 95 or lower. We can not be sure about this. But at least, for spinning, this is not a good time for Buying.

5 Eyl 2022

Not

Cotton are in the "Confluence Zone" for a Down Trend.
Such as: RSI weak, MACD Negative Divergence, Strong Red Bars, MA25 broken.
The possibility of DOWN trend to lower level are very high.