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NY cocoa may bounce to $2,391 per tonne before falling

  • A break above $2,391 may open the way towards $2,436 while a break below $2,355 could cause a fall to $2,319.
Published June 12, 2020

SINGAPORE: New York July cocoa may bounce to $2,391 per tonne before retesting a support at $2,355.

The bounce is classified as a pullback towards a rising trendline.

It may end around $2,391, the 38.2pc retracement of the uptrend from $2,201 to $2,509.

A break above $2,391 may open the way towards $2,436 while a break below $2,355 could cause a fall to $2,319.

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