NCDEX Cotton Seed Oil has shown a negative trend for past Six months, with lower top lower bottom channel formation on it.
Further price is unable on to break the major support until breached a pullback level of Rs 1050 Six month current level where the price has breached the level. Currently a breakout can be seen at previous top of Rs.1185(R).
A sustainable Long term resistances line (C) and touch the rally targeting Rs 1250 (T1) in one to two close above Rs. 1185 level could trigger a sharp weeks.
