Type: Further DipsKey Levels:Resistance: 120.14Pivot: 119.11Support: 116.20Preferred Case:Preferred case: Prices are on bearish momentum. We see the potential for further dips from our Pivot at 119.11 in line 50% Fibonacci retracement towards our 1st support at 116.20 in line with 78.6% Fibonacci retracement and 38.2% Fibonacci retracement. Our bearish bias is further supported by Prices trading below our Ichimoku cloud support.Alternative Scenario: If prices were to reverse, they can potentially climb towards our 1st resistance at 120.14 which is in line with 61.8% Fibonacci projection.Fundamentals:No major news.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/cotton-futures-ct-h4-potential-for-further-dips"
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