Prices have been in a squeeze for a very long time ...
The last days of this scramble will be like the middle of June. Prices will probably decide which way to go by this date, Up or down?
In this sense; It is worth watching the 1840-1890 band for prices that are supported by the 50-day exponential average. However, we would expect prices to hold on to 1690 and...
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.
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As demand side economics attempts to take over the over the world - commodities should stand to benefit.
#Cocoa is breaking above its declining resistance line and we are entering longs at current levels targeting the previous period high at 2800.
Work stops at 2440 initially.
#cc1
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TECHNICAL ANALYSIS OF COCOA
Last week, ICE U.S. cocoa futures closed lower at $2,506 a ton. Cocoa prices fell sharply last week from over $2,650 to just $2,500. Even the falling dollar could not provide support for cocoa.
Last week...
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TECHNICAL ANALYSIS OF COCOA
Last week, ICE U.S. cocoa futures closed lower at $2,622 a ton.
Ivory Coast lifts suspension of sustainability programs imposed on industrialist Hershey. Indeed, the U.S. chocolate maker has committed to...
Beginning of uptrend if channel breaks. Potential TP = height of broken channel, also retest of previous highs. Support seems to have been found at 50% fib retracement level. Tight SL below 2500. RSI indicator seems to back the upside
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...
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TECHNICAL ANALYSIS OF COCOA
Last week, ICE U.S. cocoa futures closed higher at $2,654 per ton.
Ivory Coast lifts suspension of sustainability programs imposed on industrialist Hershey. Indeed, the U.S. chocolate maker has...
COCOA future after hitting the 2820 level retraced back until the previous high over a daily support.
From here IF the price will break below we can a test of the 0.382 or 0.5 fib level.
We will wait for a new sign of inversion to see a long order.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly...
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TECHNICAL ANALYSIS OF COCOA
Last week, ICE U.S. cocoa futures closed higher at $2,766 a ton.
Some manufacturers bought cocoa directly on the futures markets to avoid paying the LID, a $400 premium introduced by Ghana and Ivory...
COCOA future daily chart after the previous impulse retraced until exactly the 0.786 fib level before starting strong bullish leg.
The price never retraced yet and in the next days we can expect a retracement move until the 0.382 or the level above.
According to Plancton's strategy (check our Academy), we can set a nice order
–––––
Follow the Shrimp 🦐
Keep in...
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TECHNICAL ANALYSIS OF COCOA
Last week, ICE U.S. cocoa futures closed sharply higher at $2,712 a ton.
According to Bloomberg, Hershey is responsible for the sudden upward movement in cocoa prices by buying massively on the...
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TECHNICAL ANALYSIS OF COCOA
Last week, ICE U.S. cocoa futures closed higher at $2,388 a ton.
Hopes for a vaccine are fuelling markets, Moderna announced very encouraging results on Monday. The pandemic is not weakening, we have...
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ANALYSE TECHNIQUE DU CACAO
Last week, ICE U.S. cocoa futures closed higher at $2,3333 per ton.
The pandemic continues unabated, we've just surpassed 50 million cases worldwide, with more than 1.250 million deaths. Faced with...
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TECHNICAL ANALYSIS OF COCOA
Last week, ICE U.S. cocoa futures closed sharply lower at $2,294 per ton, losing more than $200 in one week. First, the worsening health situation with a sharp increase in covid-19 cases in the U.S....
