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ReutersNY cocoa may test support at $2,451

SINGAPORE: New York December cocoa may test a support at $2,451 per tonne, a break below which could cause a fall into $2,339-$2,408.

The contract is riding on a wave C from $2,632, which is expected to travel to $2,339.

The support at $2,451 may trigger a weak bounce limited to $2,486.

A further gain, however, could be extended into a range of $2,520-$2,563.

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

ReutersNY cocoa may test support at ,451

Source: Brecorder

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