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ICE Cotton Technical Chart and Analysis 8th December 2016
Trend Remain bearish, momentum still weak. Sustaining over 71.33-71.50 cents is good for cotton 1703 to minimize the ongoing selling pressure. If the decline continues, the initial target will be at 70.59 cents, which could later extend to 69.01 cents. However, any upward movement will find resistance level at 72.50 cents.