SINGAPORE: New York December cocoa may revisit its Tuesday high of $2,641 per tonne, as it is expected to consolidate around a rising trendline.
The main battlefield between bulls and bears is centred around this line. Cocoa broke the line, but struggled to climb above it. The sideways move may take a few days to complete.
A break below $2,595 could open the way towards $2,567-$2,583 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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