Cocoa has now risen more than 26% since the low of the magenta wave (4) and still seems to be dominated by the bulls. We now expect one last surge before the price reaches the high of the magenta wave (5), which shouldn't be too far away, completing the white wave (B). After that, the trend should be down again, starting with the magenta wave (1).
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.