cotton is on the brink of a significant price increase, poised to break out of its current consolidation phase. The trading contract for July 2023 is currently being traded at a higher rate than the nearby contracts, indicating a premium price in itself. Notably, commercials are accumulating net long positions in the COT (Commitment of Traders) data, reflecting the most bullish sentiment seen since 2020.
These compelling factors, combined with robust fundamental data, lead me to anticipate a notable upward movement in the price of cotton within the next few days or weeks. However, it is important to acknowledge that predicting market movements carries inherent risks, as market conditions can swiftly change, and multiple factors can influence commodity prices
These compelling factors, combined with robust fundamental data, lead me to anticipate a notable upward movement in the price of cotton within the next few days or weeks. However, it is important to acknowledge that predicting market movements carries inherent risks, as market conditions can swiftly change, and multiple factors can influence commodity prices