ICEUSA:CC1!   Cocoa
120 2 1
Here is one commodity market that appears to want to go higher, not lower. CRI's Weekly Commodity Trend survey currently is long from 2418 with stops just below 2150. The 50% level is currently near 2862 and shall be the initial target.
Climbing the wall of worry. Next significant resistance will be the monthly breakout at 2744. Should we clear that, I expect clear sailing up into the rather noticeable gap at 3092. At this point I am waiting for a considerable pullback before moving stops...
this market looks like a good place to be long vs. almost any other asset. Up 140 ticks from entry levels so far with a long way to go
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