Commodity Weekly Forecast

[Forex 2020]

Week Forecast (February 1 – 5, 2021)​

Cotton :​

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 82.12, which will be followed by moving up to resistance level 85.00.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 82.12, which will be followed by reaching support level 78.50 and if it keeps on moving down below that level, we may expect the market to reach support level 74.10.

Sugar :​

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 16.50, which will be followed by moving up to resistance level 17.15.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 16.50, which will be followed by reaching support level 15.10 and if it keeps on moving down below that level, we may expect the market to reach support level 14.00.

Cocoa :​

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2592, which will be followed by moving up to resistance level 2800.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2470, which will be followed by moving down to support level 2160.

Coffee :​

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 120, which will be followed by reaching resistance level 132.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 120, which will be followed by moving down to support level 111.

Natural Gas :​

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2.588, which will be followed by moving up to resistance level 2.737 and if it keeps on moving up above that level, we may expect the market to reach resistance level 3.000 and 3.200.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2.588, which will be followed by reaching support level 2.368 and if it keeps on moving down below that level, we may expect the market to reach support level 2.150.

Soybean :​

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1380, which will be followed by moving up to resistance level 1434.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 1380, which will be followed by reaching support level 1297 and if it keeps on moving down below that level, we may expect the market to reach support level 1207.