Cocoa analysis:
Seasonality: usually Cocoa advances mid April, but the real surge begins Jun, though Cocoa seems interestingly very bullish with respect to its seasonality
1- COT: commercials where extremely long
2- Open Interest: commercials holding their shorts in consolidation after an impulse leg
3- Backwardation: nearby contract is trading at a Premium compared to next contract (somebody is willing to pay more for his Cocoa)
4- A down close candle on daily (an Order Block) has been created = more buying ?
* If April 15 closes above 2434 the order block is validated
5- Targets are: 2490/2720
Seasonality: usually Cocoa advances mid April, but the real surge begins Jun, though Cocoa seems interestingly very bullish with respect to its seasonality
1- COT: commercials where extremely long
2- Open Interest: commercials holding their shorts in consolidation after an impulse leg
3- Backwardation: nearby contract is trading at a Premium compared to next contract (somebody is willing to pay more for his Cocoa)
4- A down close candle on daily (an Order Block) has been created = more buying ?
* If April 15 closes above 2434 the order block is validated
5- Targets are: 2490/2720
Note
Order cancelled
May expired
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.
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.