New York cocoa may seek support at $2,310

• The support is identified as the 61.8pc retracement of the uptrend from $2,201 to $2,487. Given that the former support at $2,344 failed to hold and trigger a bounce.

SINGAPORE: New York July cocoa may seek a support at $2,310 per tonne, to hover above this level or bounce towards $2,344.

The support is identified as the 61.8pc retracement of the uptrend from $2,201 to $2,487. Given that the former support at $2,344 failed to hold and trigger a bounce, the support at $2,310 may cause a moderate bounce.

A break below $2,310 could cause a fall to $2,268, while a break above $2,344 may lead to a gain to $2,378.