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Wednesday, March 22, 2023

NY cocoa targets $2,605, attracted by wave b peak

SINGAPORE: New York March cocoa may break a resistance at $2,568 per tonne and rise towards $2,605.

A corrective wave cycle from the Oct. 4 high of $2,812 has completed. The wave b peaked at $2,665, which may be approached over the next few days.

Support is at $2,538, a break below which could be followed by a drop to $2,507.

Note: The cocoa report is published twice a week – Wednesday and Friday.

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.

NY cocoa targets ,605, attracted by wave b peak

Source: Brecorder

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