NY cocoa may extend gains to $2,298

SINGAPORE: New York December cocoa may extend its gains to $2,298 per tonne, driven by a wave c.

Three waves make up the bounce from the Sept. 26 low of $2,192.

The current wave c is expected to travel to $2,298, its 100% projection level.

ICCO increases forecast for 2021/22 global cocoa deficit to 230,000 tonnes

Support is at $2,267, a break below which could open the way towards $2,239-$2,253 range.