SINGAPORE: New York September cocoa may break a support at $2,378 per tonne and fall into a zone of $2,313-$2,351.
The contract is riding on a wave C from $2,590, which is capable of travelling to $2,313.
The drop on Thursday confirms a continuation of this wave.
Resistance is at $2,419, a break above which could lead to a gain to $2,452.
Note: The cocoa report is published twice a week - Wednesday and Friday.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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