SINGAPORE: New York December cocoa may test a resistance at $2,375 a tonne, a break above which may lead to a gain to $2,397.
The contract briefly pierced below a support at $2,325 and quickly surged above a trendline thereafter.
Raw sugar prices edge up, coffee also climbs
This swing move signals the formation of a temporary bottom around $2,325.
A fall to $2,325 again would confirm the continuation of the downtrend towards $2,280.
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