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NY cocoa may test $2,538; rise from Nov.8 low complete

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By Reuters

SINGAPORE: New York March cocoa may test a support at $2,538 per tonne, a break below which could cause a fall to $2,507.

The contract failed twice to break a resistance at $2,605.

The failures suggest a completion of rise from the Nov. 8 low of $2,433.

A break above $2,605 could lead to a gain into $2,628-$2,665 range.

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.

Cocoa

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