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Cotton Wave Analysis – 26 March, 2019

  • Cotton rising inside wave (c)
  • Further gains are likely

Cotton continues to rise inside the wave (c) of the short-term ABC correction 2 from the middle of February.

The price earlier broke though the resistance area lying between the key resistance level 75.00 and the resistance trendline from the end of July.

Cotton is expected to rise further and re-test the next round resistance level 80.00 (target price for the completion of the active correction 2).

Source: FxPro


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