FxPro - Analytics

FxPro

748.25 6.25/10
89% of positive reviews
Real

Cotton Wave Analysis – 28 January, 2019

  • Cotton reversed from support area
  • Likely to rise to 71.00

Cotton recently reversed up sharply from the support area lying between the support level 68.00, lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse 1.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer – which started the active impulse wave 3.

Cotton is likely to rise further toward the next resistance level 71.00 (which reversed the price multiple times earlier this month).

1580227923


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree