SINGAPORE: New York September cocoa may keep rising into a range of $2,351-2,378 per tonne, as it has broken a resistance at $2,313.
The break opened the way towards $2,351.
A falling trendline suggests a higher target of $2,378. It must be noted that the downtrend from $2,590 remains intact and may extend to $2,207.
London cocoa hits 5-month low on supply surplus, raw sugar gains
A break below $2,294 could cause a fall into $2,248-$2,273 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.
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