COTTON at Key Support - Potential Buy Opportunity
COTTON has reached a critical support zone, aligning with previous price rejections and marking an area where buyers have historically regained control, leading to bullish reversals.The current market structure indicates a potential bullish reaction if the price confirms a rejection from this zone. A likely scenario could involve the formation of a bullish rejection pattern, such as a pin bar or a bullish engulfing candle, signaling a shift in market momentum.
If buyers reclaim control at this level, I anticipate an upward move toward the 6,827.0 level, which is a logical profit target for the current market structure.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
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