🧵✨ Cotton Futures (CT1) — Market Snapshot ✨🧵
📉 Trend: Upward
💵 Renewed U.S.–China trade discussions are boosting hopes for stronger Chinese demand, offering some upside support.
🌍 End of U.S. government shutdown concerns has added mixed sentiment, keeping gains measured.
📊 Technical Indicator: 🔁 Fibonacci Retracement
🐦 Prices are currently hovering near the 23.6% Fibonacci retracement level, a strong support zone.
💰 Support: 🟢 64.06 USD/lb
Cotton futures typically show stronger performance in November.
💵 Resistance Zone: 🔴 65.75 – 66.00 USD/lb
📉 A potential profit-taking area or range-top resistance for short-term traders.
📊 Open Interest: 📄 155.97K 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.
The Agri-Crop editorial team comprises commodity market analysts, rice trade specialists, and agriculture industry professionals based in Pakistan. We track daily price movements, export data, and policy developments across Pakistan’s key agricultural sectors.
