SINGAPORE: New York September cocoa looks neutral in a range of $2,386-$2,418 per tonne, and an escape could suggest a direction.

A break above $2,418 could lead to a gain into $2,445-$2,471 range, while a break below $2,386 could open the way towards the zone of $2,333-$2,366.

The bias could be towards the upside, as the wave C looks incomplete. It could travel into a wide range from $2,471-$2,556.

NY cocoa dips to 8-month low, sugar falls

Note: The cocoa report is published twice a week - Wednesday and Friday.

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