SINGAPORE: New York July cocoa may bounce to $2,391 per tonne before retesting a support at $2,355.

The bounce is classified as a pullback towards a rising trendline.

It may end around $2,391, the 38.2pc retracement of the uptrend from $2,201 to $2,509.

A break above $2,391 may open the way towards $2,436 while a break below $2,355 could cause a fall to $2,319.