We had bearish divergences a couple weeks ago and now cocoa came off.
Target around 3100, but some support around 3200 with middle Bollinger Bands, 20 day MA and 50 day MA and 100 day MA around 3185
Future spreads have weakened from (base Dec/Mar) from +16 to +1 with a low of -2 today
Target around 3100, but some support around 3200 with middle Bollinger Bands, 20 day MA and 50 day MA and 100 day MA around 3185
Future spreads have weakened from (base Dec/Mar) from +16 to +1 with a low of -2 today
Trade closed: target reached:
target of 3100 achieved (actually 3102 is the low) for now, but no buy signals in sight to cover IMHO
CC attempted a rally and failed earlier.
Future spreads Dec15/Mar16 trade at new lows at -5.
Keeping a close eye on spreads and Stochastic and RSI
CC attempted a rally and failed earlier.
Future spreads Dec15/Mar16 trade at new lows at -5.
Keeping a close eye on spreads and Stochastic and RSI
