can’t beat a good cotton shirt …they might be getting more expensive, soon

Cotton came down and bounced off a major level (.786 retrace) that had it’s “node” from 1971.  it’s been correcting since March in a very nice 3 wave down (a), 3 wave up (b) and now finishing, what I believe to be a C wave.  Can make the case for 76 being the low but would wait to in/around 70-72 as many more confirmations are present (blue arrow measured move correction, 1.618a = c, .786, 1.618 extension and, it just looks like there is one more wave down)

cotton support from 1972 node
cotton support from 1972 node

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Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

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