Head and Shoulders in CocoaNoticed since the big 2018 Rally that Cocoa has been trading more Technical then Fundamental, long term Cocoa traders have also mentioned that Algos have been very involved in Soft's last couples year.
Fundamentals look Bearish (Covid, La Niña considered favorable to Cocoa yields)
Only Bullish input is money is flowing back into Commodities so I wouldn't expect huge price downside.
