🧵✨ Cotton Futures (CT1) — Market Snapshot ✨🧵
📉 Trend: Downward
💵 A stronger U.S. dollar, lower crude oil prices, and weak global demand continue to pressure prices.
🌍 Amid U.S. government uncertainty further weigh on market sentiment.
📊 Technical Indicator: 🔁 “Three Black Crows” Pattern
🐦 This bearish formation signals continued selling pressure, though prices are now approaching a key support zone — watch for a potential technical rebound if fundamentals stabilize.
💰 Support: 🟢 63.39 USD/lb
💵 Resistance Zone: 🔴 65.75 – 66.00 USD/lb
📉 A potential profit-taking area or range-top resistance for short-term traders.
📊 Open Interest: 📄 130.05K contracts
🪙 Indicates active participation, with both speculators and hedgers positioning amid market weakness.
🧶 Future Type: 🌾 Cotton (CT1)
📍 Traded on the Intercontinental Exchange (ICE US) — the global benchmark for cotton pricing.
It’s a caution that the information provided is for knowledge purposes only and should not be taken as a recommendation to buy or sell assets.
