Analysis: Price experienced a sharp decline over the short period and can now be seen as extended. Reversal position (long) can be taken to trade the potential retracement or even reversal.
Long opportunity: High risk Long at market as reopening towards 83.89 as Take Profit - 1 level.
The main technical graph is for Cotton # 2 Futures that firmly up this year, with solid 13.5 percent performance in 2024 to this time.
The weekly Commitment of Traders report showed managed money cotton traders dropped 6k existing shorts and added 11.6k new longs during the week that ended 2/6. That raised their net long to 46,344 contracts. Commercial cotton...
Cotton has been in a nice uptrend since the lows back in June, and although we have seen some chop recently, we are still trading in this wedge with defined support and resistance. Looking more at the technical side, Cotton broke out of a bearish trend on September 28th, and is looking strong as we are entering Q4.
Old Resistance, new support:
Looking at this...
Cotton has been in a range for a long time. Currently, we see a reversal. The drought in the USA and Asia has significantly influenced the supply side, which is noticeable in the price. Also, seasonally, an upward trend is expected. However, the COT data from the COT report do not confirm the buy signal. Nevertheless, I still anticipate an upward trend if the...
Large institutional buyer is waiting and absorbing in the position now. DO not to buy or short. Be patient and watch out. Always manage your risk level.
Here are some recent information that have increased cotton prices:
Drought in Texas: The US state of Texas is a major cotton producer, and the ongoing drought in the state is expected to reduce cotton production by 2.5 million bales in the 2023/24 season.
Reduced cotton production in China: China is the world's largest cotton producer, but the country is also...
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
If trend go across 89.08 lining , this trend will be bullish and it should test resistance line .
if trend pass 76.90 line ,it would test this 76.90 level . it will be reversed bear trend
cotton is on the brink of a significant price increase, poised to break out of its current consolidation phase. The trading contract for July 2023 is currently being traded at a higher rate than the nearby contracts, indicating a premium price in itself. Notably, commercials are accumulating net long positions in the COT (Commitment of Traders) data, reflecting...
ICEUS:CT1! Cotton!
Bless ya cotton socks, they say! I been checking the commodity index and things may get funky...
Now I went through sugar, that's looking like it's little over extended, now here's a beautiful chart of cotton!
Let's dive into technicals:
Pattern: Wedge
Highs: 90.15 Lows: 72
Now if we break the lows of 72, I expect 67.55 and then 62.25...
Looking at the H4 chart, my overall bias for CT1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Looking for a sell entry at 85.49, where the 23.6% Fibonacci line and overlap resistance is.
Stop loss will be at 88.88, where the recent high is. Take profit will be at 77.50, where the previous swing low is.
Please...
This is Trading Week #3 (Jan 16-20) 2023.
Data from the past 10 years (2012-2022) shows that Cotton Futures was up 9 years (90%) of time.
Get ready to LONG on Monday!
I m haven't traded in Cotton before but based on my analysis I reckon there is a possibility of long with an entry price between 80-81 with a stop loss at 78.50 and a take profit above the moving avergae at preferably 87-87.50.
Do share your thoughts on this
