Cotton prices are severely depressed at the moment.
Opportunity for profit 6% Risk to 20% Reward - 1:3 RR profile.
Fundamentals:
Drought, pest attack hit yields in key producing regions resulting in 9 year low on production output
Imports 80% increase
Exports have plunged to 10-year lows
reuters.com/article/india-cotton-imports/indias-cotton-imports-to-surge-as-output-hits-9-year-low-trade-body-idUSL3N20229L
Opportunity for profit 6% Risk to 20% Reward - 1:3 RR profile.
- Entry Price and accumulation around 1.62
Stop Loss 1.56
Initial Take Profit January 2020, expect small seasonal retrace.
Final Take Profit June 2020 at 2.0
Fundamentals:
Drought, pest attack hit yields in key producing regions resulting in 9 year low on production output
Imports 80% increase
Exports have plunged to 10-year lows
reuters.com/article/india-cotton-imports/indias-cotton-imports-to-surge-as-output-hits-9-year-low-trade-body-idUSL3N20229L
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.