the current pattern is considered a bearish pattern, volume becomes a key indicator. If volume breaks to the sell side, then there is a sell-off. I doubt such a move on a commodity, would not be surprised if it was a stock. This morning Reuters published how the energy crisis is hurting heavy industries such as BASF and other german companies, this no doubt is a...
My CC1! short prediction for the next week! I think we can reach the last bullish gap and we need to fill it. The setup is very bearish, you can identify an evening star which started this movement!
cocoa After the decline and breaking the bottom of 2313, the commodity became to decline in the coming period, and we expect the completion of the ((E)) leg at lower levels that may reach the level of 90% before the rebound and reversal and the decisive point 2092
cocoa was ranging since the beginning of 2017. In June 2022 CC broke the 209 SMA with a high volume. after that CC keeps testing the downline of the range. a breakthrough that line would signal a substantial short opportunity. it is taking into consideration the rsi that is under the 50% Line. Let's see what Cocoa will do in the following weeks.
cocoa Expecting cocoa to continue rising in the coming period, and this rise depends on the continuation of trading above the support point 2315 and the end of wave ((ii)), and the beginning of the rise in wave ((iii)) targeting prices of 2741 and now we expect cocoa to rise and the end of the decline in wave (ii) at Prices 2356
#Cocoa can’t seem to take a clear heading, the august attempt failed. USD keeps consolidating (@109) harming commodities such as cocoa. On a technical view: cc tried for a run above 2400 on the 22nd of August, but this push was cut short by negative world news from higher inflation, more worries from China, Europe, and mostly the energy crisis that will seem to...
cocoa Expecting the continuation of the rise in Cocoa in the coming period, and this rise depends on the continuation of trading above the support point 2315 and the end of wave ((ii)), and the beginning of the rise in wave ((iii)) targeting prices of 2741
Daily cocoa analysis A long position with the target and stop loss as shown in the chart The trend turned from bearish to bullish, after it breached the resistance line. We have sought more upside, all the best
cocoa Expecting the continuation of the rise in Cocoa in the coming period, and this rise depends on the continuation of trading above the support point 2315 and the end of wave ((ii)), and the beginning of the rise in wave ((iii)) targeting prices of 2741
The picture below highlights major swing bottoms that all occured in July. Years 2020 and 2021 clearly offered a phenomenal buying opportunity for long positions. Further back, in 2019, a major swing bottom has been locked in in August. In 2018, we got minor swing bottom in August as well, but the price came slightly below the level in October. That year, the...
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The cocoa market, along with many of the softs, is gaining some steam as inflation levels seem to be turning around. The September contract broke its downtrend going back to April of this year and pushed through the 50-day moving average. As inflation looks to be cooling, Cocoa could look to extend gains and test some resistance near the 2464 level, where there...
Daily cocoa analysis Sell trade with target and stop loss as shown in the chart We will see more corrective decline, all the best
On the daily graph, #CC is attempting a break-out from its mid-February downhill from 2800 down to 2250. It has tried monthly to break through that resistance (RED) and failed, it is now on 9th of august attempting yet again. However, this time it looks more supportive as its MACD has turned positive since mid-July and better buy volumes also. Its short term...
Bearish configuration is expected on COCOA market. Demand on commodities is being reduced by the FED (raise in interest rate). N.B : Markets does not respond immediately to the raise of interest rate - SO BE CAREFFUL .
Daily cocoa analysis A long position with the target and stop loss as shown in the chart The trend is up, after it breached the descending trend line, it came back to test the rising trend line from it, we may see a strong rise.
Several rejetcs of the resistance + a M pattern, the price break the 20 period SMA
Very sharp and strong landing, knowing that it has reached a very strong demand area, and we can see a light rise, and if this region breaks, it will continue to drop to the lowest points.