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New York cocoa may rise to $2,569

  • The resistance is provided by the 38.2pc retracement of the downtrend from $2,936 to $2,201.
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By Reuters

SINGAPORE: New York July cocoa may rise to $2,569 per tonne, as it is poised to break a resistance at $2,482.

The resistance is provided by the 38.2pc retracement of the downtrend from $2,936 to $2,201.

The next resistance will be $2,569, a break above which could lead to a gain to $2,655.

A break below $2,463 could cause a fall to $2,416.

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