CTK2022 (Cotton Futures) | H1 Bullish Pressure

36525 ctk2022 cotton futures h1 bullish pressure

Type: Bullish PressureKey Levels:Resistance: 140.57Pivot: 135.31Support: 132.61Preferred Case:Price is near pivot level of 135.31 in line with 50% Fibonacci retracement and 100% Fibonacci projection. Price can potentially rise up to the 1st resistance level at 140.57, in line with 78.6% Fibonacci retracement and 100% Fibonacci projection. Our bullish bias is further supported by the stochastic indicator where it is at support level.Alternative Scenario:Price might also dip towards the 1st support level of 132.61 in line 78.6% Fibonacci retracement and 78.6% Fibonacci retracement.Fundamentals:No Major News

Source: Tickmill

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