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Elliott Wave Analysis: Cotton With A Nice Uptrend

Elliott Wave Analysis: Cotton With A Nice Uptrend

Cotton #2 ICEUSA:CT1!

On the intraday chart of Cotton, we are observing a nice impulsive wave in the making with price now in wave (iii), specifically in sub-wave iv that can find possible support around the upper channel line and the 38.2 or 50.0 Fibonacci ratio.
When correction in wave iv is completed, more gains may follow towards the 77.40 zone.

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