Cocoa Futures ( CC1! ), H4 Potential for Bullish Continuation
Title: Cocoa Futures ( CC1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 2577
Pivot: 2422
Support: 2475
Preferred case: Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to head back up towards the resistance at 2577, previous high is.
Alternative scenario: Price may go back down to retest the support at 2475, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 2577
Pivot: 2422
Support: 2475
Preferred case: Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to head back up towards the resistance at 2577, previous high is.
Alternative scenario: Price may go back down to retest the support at 2475, where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
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