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Cotton Trade Idea for Monday

Guest Balaji3003

By Guest Balaji3003,
in Commodities

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Guest Balaji3003

Guest Balaji3003

Posted
Posted

I am looking at the bullish trend in cotton, with an inside bar formed on Friday (today)

The market is strongly bullish on both the daily and weekly timeframe, with the next nearest major resistance around the 7920 area.

 

Below is a snapshot of the daily and 1 hr charts. There is a triangle pattern forming on the 1 hr chart. The market could potentially fill the highlighted area on Monday if it breaks the daily/weekly high

 

feel free to share your ideas

 

cotton1hr.PNGcottondaily.PNG

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