A bullish signal on Cocoa with first target area at $ 2,305/2,310. Stop loss at $ 2,090/2,100
At 1800 levels we will definitely close the short position and in accordance to COT commercial We will revert to LONG again
Cocoa futures monthly demand in control, long opportunities. Going short with monthly demand level in control is very risky and low odds. Very strong monthly demand created with proximal line at 1995. New daily demand zones being created, not yet available. Longer term long bias with this monthly demand zone in control.
Cocoa (CC1!) is on a very aggressive long term Channel Down on 1W (RSI = 37.498, MACD = -53.170, Highs/Lows = -176.9286, B/BP = -379.8580) and is currently also trending lower on the latest 1D bearish leg, equally as aggressive (STOCH = 21.862, Williams = -90.823). This is the third leg downwards on this Channel Down and based on the previous two it should reach a...
Lester Davids, our Trading Desk analyst, is bullish on sugar over the medium term, but in the short term there may have a potential short/sell. Interesting that all the softs (except wheat) have all moved together. Possibly look to accumulate a basket of softs on a bit of a pull back.
Downward Trend. Bounce from 61.2. If Price goes under 2.300 signal to sell.
Quick chart for my followers, cocoa to go long, if you have been following my other publishes then you would understand my chart without yellow full details, there may be further downtrend on the bottom yellow line but overall cocoa is on the uptrend as it has hit top yellow line. Top yellow line at 2051 Bottom yellow line at 1800 Please study your indicators...
Cocoa appears to have completed a multi-year correction in May 2017 to 1792 in the form of WXY; could be a great buy with a stop loss below that point. There was a very big starting wedge for wave 1, followed by a complex WXY for what could be wave 2...Cocoa might already be in the next impulsive move towards new highs
Cocoa is at a heavy resistance now, 2443. Will it go Short or long? Price is exactly between two fibonacci resistances now; 2524 and 2368. I think price will bounce between these two before it breaks long or short. When it breaks the long resistance 2524, I see a target of 2674. When it breaks low; target 2153. Most difficult part are the exact positions where...
Cocoa is at a heavy resistance now, 2443. Will it go Short or long? Price is exactly between two fibonacci resistances now; 2524 and 2368. I think price will bounce between these two before it breaks long or short. When it breaks the long resistance 2524, I see a target of 2674. When it breaks low; target 2153. Most difficult part are the exact positions where...
COCOA triangle setting up a possible move up
Cocoa is building a base since March of this year. Eventually it looks like it wants to get it on and move to higher levels. The price projection symmetry on the monthly provided good enough support and we see signs that this base is finally over and the next leg higher has already started. Based solely on technicals , COCOA has a minimum 100-200 upside from...
This has broken from the very protracted downtrend and bottoming over the last 12 months. You can now see two horizontal lines of resistance - one of which the price is currently sat at - we also have a parallel channel on the RSI which I think needs to break. To my eye we need to see to move above $2100 and we should be in for a long hold and run.
Weekly chart so very long timescales in play but this has bottomed and is reversing from my perspective. I would be taking longs on the dips.
COCOA ending a big correction and hitting bottom
Cocoa has hit levels which has previously proven to be support levels in 2011/12 and again in 2013. I believe that this may be the turning point for the cocoa price, after a rough 2016 with a 32% decline. If the support level is broken, though, it's probably wiser to open a short position. What's interesting is that the short interest in cocoa is very high, and...
entry point 2178 for me , Target 2500 first,