What is the fate of Cotton in 2020?
This weekly chart provides a good understanding of
1. Gaps - price peak in May 2011 and has plunged more than 70% ! 8 years later, we are still in the dark tunnel
2. How resistance turns to support and vice versa
3. Price action - 2011 to 2012 - that was the waterfall plunge in the 1st short where it lost more than 70%. That means, for a shortist to miss understanding and act on this chart pattern, his potential opportunity costs is 70% loss.
4. Current - Price action is now in a nice Cup & Handle pattern and there would be 2 buying opportunities. See day chart
1. Gaps - price peak in May 2011 and has plunged more than 70% ! 8 years later, we are still in the dark tunnel
2. How resistance turns to support and vice versa
3. Price action - 2011 to 2012 - that was the waterfall plunge in the 1st short where it lost more than 70%. That means, for a shortist to miss understanding and act on this chart pattern, his potential opportunity costs is 70% loss.
4. Current - Price action is now in a nice Cup & Handle pattern and there would be 2 buying opportunities. See day chart
Penafian
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