Hi Traders, Investors and Speculators of the Charts 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
Are you looking to make a trade out of Easter weekend? Look no further than Cocoa futures, or chocolate.
Cocoa is a soft commodity that...
Cocoa daily chart forming a bullish hammer pattern, after hit the support at the bottom of the consolidation zone. If the daily hammer pattern confirmed I recommend to open long trade at market price, because i think it can go to February 2020 high price at 2900.
Trade at your own risk.
Please don't forget to like, follow, and comment, if you like my analysis.
A possible long in Cocoa, after breaking from a downtrend channel (now retesting it) and finding support at the 50% fib retracement level, cocoa might yet again go higher to retest the 2700 key level or 2730 (projected height of the broken channel).
Cocoa's seasonality is somewhat against higher prices at least until February-March, so beware of the short term...
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
In percents away from all-time high & low by last close (32 Commodities)
drive.google.com
Best regards :)
Aaron
