Prediction:
I expect COCOA FUTURES price to start a bearish trend after hitting the resistance presented in the pitchfork on the chart.
Reasons :
- investors may take their profits of the year
- currency depreciation of the producers countries vs the Dollar
- as interest rates stabilises , investors starting to move to stocks as the fear times of the quantitative tightening may be near an end.
I expect COCOA FUTURES price to start a bearish trend after hitting the resistance presented in the pitchfork on the chart.
Reasons :
- investors may take their profits of the year
- currency depreciation of the producers countries vs the Dollar
- as interest rates stabilises , investors starting to move to stocks as the fear times of the quantitative tightening may be near an end.