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p4917

Cotton prices on the stepping stone?

Long
Cotton No. 2 Futures (ICEUS:CT1!)  
p4917 Updated   
ICEUS:CT1!   Cotton No. 2 Futures
Fibonacci Trend Lines Seasonality cottontrade commoditytrading Commodities commoditysignals bullishsetup consolidation movingaveragepriceaction seasonaltendencies seasonality-trading
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fibonacci trendline seasonality cottontrade commoditytrading commodities commoditysignals bullishsetup consolidation movingaveragepriceaction seasonaltendencies seasonality-trading
As described here - I see the signs are right for a bullish move in cotton.
Comment:
Placed another limit buy in the market to add to my position but it wasn't reached so far. Need to consider entering again later ....

snapshot
Trade closed manually:
It doesn't look good. The Jul contract is forming rather a bearish wedge pattern. The move to the upside is rather weak. So I take my few bucks profit and sit on the sideline for now. If the bearish wedge will be broken to the upside I'm in again ...

snapshot

The other possibility would be, if the current contract is getting broken to the upside - then I assume that the Jul contract will follow. But this looks also not bullish ATM:

snapshot
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