New York cocoa may rise to $2,875

• The resistance was provided by the 123.6pc projection level of an upward wave c from $2,188.
• This wave may extend into the range of $2,875-$2,992.

SINGAPORE: New York March cocoa may rise to $2,875 per tonne, as it has broken a resistance at $2,802.

The resistance was provided by the 123.6pc projection level of an upward wave c from $2,188.

This wave may extend into the range of $2,875-$2,992.

A break below $2,802, now a support, could cause a fall to $2,758.