$CT1! Cotton... ICEUS:CT1! Cotton!
Bless ya cotton socks, they say! I been checking the commodity index and things may get funky...
Now I went through sugar, that's looking like it's little over extended, now here's a beautiful chart of cotton!
Let's dive into technicals:
Pattern: Wedge
Highs: 90.15 Lows: 72
Now if we break the lows of 72, I expect 67.55 and then 62.25 areas. However, if we break above the highs of 90.15, I expect 95 and then 105 areas. Now, there are certain things to keep in mind, everyone is discussing it and I've started it since start of the year that key words: Stagflation....and there's another one recession! The market is forward looking...Those that understand economic cycles saw this coming and I well recommending researching into that, as much as technicals are important but it's really important to understand the type of cycle we are in and I had mentioned a little in my past week ahead videos!
Have a great weekend, it's long one for some of us! 🌞
Trade Journal
