SINGAPORE: New York March cocoa may test a resistance at $2,455 per tonne, as it has stabilised around a support at $2,426.
The false break below the support signals a completion of the drop from $2,576 or an ongoing bounce towards $2,483.
The bounce could be regarded as a pullback towards a rising trendline. A break below $2,426 could cause a fall to $2,390.
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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