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Cotton MCX prices: Expected to break out to 20000..crucial support holding

12 June 2017

Cotton prices 29 mm futures in MCX has been relatively stable since April 2017 between 20400 and 21500 range and as seen on the chart it’s expected to break out with sharper volatility in this week, probably within a day or two once the level of 20500 is broken. Once 20500 is broken it can lead to a sharper move towards 20000 in just a weeks’ time.On the upside break of 20900 will be needed for the upmove to continue now.Traders should be careful for a sharper volatility ahead.

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