SINGAPORE: New York March cocoa may test a resistance at $2,497 per tonne. A break could lead to a gain to $2,535.
Following its stabilization around a support at $2,434, the contract managed to climb above a falling trendline. This move signals an extension of the uptrend from $2,333.
The contract has briefly pierced above a resistance at $2,466. Chances are it may extend its gains to the next resistance at $2,497.
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