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Sunday, August 14, 2022

NY cocoa may test support at $2,312

SINGAPORE: New York cocoa may test a support at $2,312 a tonne, with a good chance of breaking below this level and falling into the $2,261-$2,290 range.

The contract is riding on a wave C from $2,476, which has travelled below its 61.8% projection level of $2,343.

Chances are it may extend to $2,261.

NY cocoa to hover below $2,477

A break above $2,343 could lead to a gain to $2,369.

NY cocoa may test support at ,312

Source: Brecorder

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