NY cocoa may test support at $2,611

SINGAPORE: New York March cocoa may test a support at $2,611 per tonne, a break below which could cause a fall into $2,558-$2,585 range.

The contract failed to break a resistance at $2,665.

The failure suggests the completion of a rise from the March 1 low of $2,471.

The drop triggered by the resistance also looks deep enough to confirm a reversal of the uptrend.

A break above $2,665 could lead to a gain to $2,698.

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