COCOA LONG MONDAY 05/08
Updated
Our team of experts posts our first official forecast for our most well known asset, COCOA, with a good start because it seems that it is fully going up.
Because of technicals, weather and cocoa data analysis, even though the small red area at the top might reject the price if it gets too high, it seems that it could go up to 8500/600 before the closure tomorrow night.
We drew the green semi circle to show you the global movement towards the next days, even though Cocoa stays really volatile.
Our advice is to buy at the opening, there might be a very little drawdown but for the 15 first minutes maximum, so buy as soon as it opens until 17/18 without any risks.
Because of technicals, weather and cocoa data analysis, even though the small red area at the top might reject the price if it gets too high, it seems that it could go up to 8500/600 before the closure tomorrow night.
We drew the green semi circle to show you the global movement towards the next days, even though Cocoa stays really volatile.
Our advice is to buy at the opening, there might be a very little drawdown but for the 15 first minutes maximum, so buy as soon as it opens until 17/18 without any risks.
Note
!!! There might be a slight fall from 5/5:30 to the closure, be careful and get ready to close around 4:30.Note
Even if this big gap was not supposed to happen, the good thing is it will be closed so the price will be launched no matter what.But because of this 15% drawdown the target price of the end of the day might be stuck to 8200/400, with a slight fall around 16/17 and after 18. Be careful from this time.
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