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.
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.
Such as: RSI weak, MACD Negative Divergence, Strong Red Bars, MA25 broken.
The possibility of DOWN trend to lower level are very high.