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MarketIntel
Sep 19, 2023 9:55 PM

Cocoa: On a diet 🚫🍫 Short

Cocoa FuturesICEUS

Description

With the recent surge in cocoa prices, we’ve observed the completion of the white wave d as forecasted in our primary scenario. Given this development, our projections suggest an impending decline characterized by a magenta five-part wave, targeting $2900. Nonetheless, it's essential to consider a 40% probability that the price might reach a slightly higher peak before initiating the expected descent
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