Technical Analysis of Cotton: 13 May 2017
Analysis done based on data till 12 May 2017
At last, Cotton Bulls broke Resistance @79.50 with Huge Volume (I have been waiting for it to happen quite a while)
Now 79.50 will act as a support - and there might be a re-test before Cotton heads towards ~84.
It's bad news for Bangladeshi Cotton importers as they are currently the largest Cotton-importing country in recent months (Source: USDA).
Hope to do next analysis in a week.
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