Cotton Continues to Power Through

JC Parets
October 12, 2021

Commodities have been a part of the discussion off late. While Base Metals get their fair share of the spotlight, Cotton is not far behind!

We've seen a nice break-out come through in Cotton. Again. So let's take a look at what the trade looks like!

Cotton has been a good trade in the recent past. But going by the strength and momentum, its time to revise the levels already!

The target we were tracking earlier was achieved last week. With the strong bullish candlestick breakout that we witnessed in Cotton, we have room to go up north further.

The price is currently trading above the level of 29,600 which is the revised risk management level. As long as the price trades above this level, our bullish thesis holds true.

The next target to track would be 38,330. This of course is over the next few weeks and months.

Click on the chart to zoom in.

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Hope you enjoyed reading this.

Allstarcharts Team

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