Technical : Cotton Bales Rajkot Spot : Trend Appears to Be Down
Cotton 1 Bales Rajkot- 19190- Trend appears to be downExpect a near term slide towards the last bottom of 18290.
Resistance will be at 19483-19923.
Halt to the slide can be seen if close is above 19923.
RSI and Stochastic is in oversold zone therefore lower levels may attract support but overall objective could be to move lower with volatility.
Lower range for support can be 19043-18603.
Conclusion
Trend is down on weekly chart is likely to move lower towards last bottom.
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