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NY cocoa may rise more to $2,642

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By Reuters

SINGAPORE: New York March cocoa may rise more to $2,642 per tonne, as it has pierced above a resistance at $2,587.

The resistance is identified as the 76.4% projection level of an upward wave C from $2,408. This wave is expected to travel to $2,642.

A correction from the current level may be limited to a support zone from $2,567 to $2,576.

NY cocoa may test resistance at $2,455

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.

Cocoa

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