Cotton price looking bullish after breaking above 50 day SMA
TODAY’S MARKET IDEA:
Cotton price looking bullish after breaking above 50 day moving average
Cotton vs US Dollar current price $88.25, both rate of change 4 and 13 day above zero line ( bullish ); MACD above its signal line ( bullish ) and the fact that current price is above both its respective 20 and 50 day moving averages indicate bullish technical conditions, upside potential for longs in the short term (1-25 days) at $95.87 ( 38.2% retracement from its 13 week low) provide price can remain above the $86.2 support.
Not investment advice. Past performance is not indicative of future results.
Cotton price looking bullish after breaking above 50 day moving average
Cotton vs US Dollar current price $88.25, both rate of change 4 and 13 day above zero line ( bullish ); MACD above its signal line ( bullish ) and the fact that current price is above both its respective 20 and 50 day moving averages indicate bullish technical conditions, upside potential for longs in the short term (1-25 days) at $95.87 ( 38.2% retracement from its 13 week low) provide price can remain above the $86.2 support.
Not investment advice. Past performance is not indicative of future results.