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Friday, December 2, 2022

NY cocoa may retest support at $2,366

SINGAPORE: New York December cocoa may retest a support at $2,366 per tonne, a break below which could open the way towards $2,343-$2,353 range.

The uptrend from $2,209 could be well divided into five waves.

This structure, along with the deep fall from the Thursday high of $2,422, confirms a reversal of the uptrend.

NY cocoa may edge up to $2,387 before falling

A break above $2,387 may lead to a gain into $2,400-$2,408 range.

NY cocoa may retest support at ,366

Source: Brecorder

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