The rise from $2,317 observed closely a set of retracements of the downtrend from $2,728 to $2,317. After breaking $2,474, cocoa is expected to test the next support at $2,414.
SINGAPORE: New York July cocoa is expected to test a support at $2,414 per tonne, a break below which could cause a fall to $2,377.
The rise from $2,317 observed closely a set of retracements of the downtrend from $2,728 to $2,317. After breaking $2,474, cocoa is expected to test the next support at $2,414.
A break above $2,474, now a resistance, could lead to a gain to $2,523.
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.
Comments
Comments are closed for this article.