New York cocoa may slide more into $2,617-$2,663 range

• The support was provided by the 38.2pc retracement of the uptrend from $2,467 to $2,859.
• The next support will be at $2,663, a break below which could cause a fall to $2,617.

SINGAPORE: New York March cocoa may slide more into a range of $2,617-$2,663 per tonne, as it has broken a support at $2,709.

The support was provided by the 38.2pc retracement of the uptrend from $2,467 to $2,859.

The next support will be at $2,663, a break below which could cause a fall to $2,617.

A break above $2,709, now a resistance, may lead to a gain to $2,766.