Elliott Wave 5.0 "Reboot"

Sunday, December 13, 2015

Cotton Weekly Chart Elliott Wave Count Review: Another Glut!



I haven't looked at cotton for some time, but once I read the story that there is a massive worldwide glut, then I wanted to see how the wave count may fit in.They say there is enough cotton to make everybody on the planet 17 T-shirts for each person.   How long would that glut to take to unwind?
Nobody will know. If the "E" wave above is still not finished, then cottons price could still crash down to match the two other bottoms.

One thing is certain whe have one big sideways pattern that does not have to follow the EWP  perfectly, but a triangle sure can fit pretty well.  There may still be some upside left, but it should break the present support just below 29.