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Cocoa

COCOA, the trend stills too precarious to take positionNext week it will try to break through the multiday bearish channel. The trend stills too precarious to take position, both in one sense and in the other. We stay on hold and enter long in case of breakage of zone 1953 COCOA CCU17 - Sep '17 FLAT from 14/07/2017 from 1896.29 LONG Above 1952.46 Stop LONG that close daily <1963.40 SHORT Under 1908.70 Stop SHORT that close daily> 1897.76 CROC X1 - Supports / Resistances R3 = 2085 R2 = 2067.00 R1 = 1931.00 PIVOT = 1913.50 S1 = 1896.00 S2 = 1891.00 S3 = 0.00 CROC X3 - Last Signal (Long Term - TF 1D) SHORT from 2,108 From 06/10/2016
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by XiNiaN
COCOA, the trend stills too precarious to take position Next week it will try to break through the multiday bearish channel. The trend stills too precarious to take position, both in one sense and in the other. We stay on hold and enter long in case of breakage of zone 1953 COCOA CCU17 - Sep '17 FLAT from 14/07/2017 from 1896.29 LONG Above 1952.46 Stop LONG that close daily <1963.40 SHORT Under 1908.70 Stop SHORT that close daily> 1897.76 CROC X1 - Supports / Resistances R3 = 2085 R2 = 2067.00 R1 = 1931.00 PIVOT = 1913.50 S1 = 1896.00 S2 = 1891.00 S3 = 0.00 CROC X3 - Last Signal (Long Term - TF 1D) SHORT from 2,108 From 06/10/2016
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by XiNiaN
Cocoa Futures. End of complex correctionHello traders. Now we are in complex correction. We saw a bullish attack ( white line), we saw bearish defence ( white rectangle) and we saw a very strong bearish attack ( another white line) so I am really expecting now for price to break 1900 level and move to one of the yellow horizontal lines. if price does not reach them, I will start seriously thinking of trend change. Before price breaks 19 level, it can pullback to yellow rectangle and give a good signal to sell. Remember: You must confirm my expectations with your own analysis!
CShort
by Magician
Cocoa Long Long TermCocoa has hit levels which has previously proven to be support levels in 2011/12 and again in 2013. I believe that this may be the turning point for the cocoa price, after a rough 2016 with a 32% decline. If the support level is broken, though, it's probably wiser to open a short position. What's interesting is that the short interest in cocoa is very high, and many traders and institutions hold a short position in cocoa, which could open up for a so called "short squeeze". The short interest is something I would monitor carefully, because if we see a decline in short positions, this could indicate that more people believe in a rise in cocoa prices, and have either just covered their short, or switched sides of the trade.
NYMEX:CJ1!Long
by BusterLundh
COCOA waiting to go SHORTThis chart has been not easy to create, both because it does not show data below D1 and I was interested in H4, and because the price vary from my broker. Anyway... #Cocoa (US futures Mar 2017) is close to a support in its retracement and might just go back again to keep its bearish trend going. Actually, on my broker the current bar (with no shadow) is exactly at the 23.6 Fibonacci level calculated from 2 lower-high ago (03 Nov 2016) which is aligned with the one calculated from the latest lower-high (06 Jan 2017) --> see green arrow on the chart. Anyway, the bearish trend can be seen on the D1 chart The H4 chart is not available but we can get a good idea of the levels having a closer look at the main image (zoomed from D1). The upwards retracement is expected to reverse either on the Fibonacci level or on the trendline. Keep this under monitoring and be ready for a price-based action to go #SHORT.
CShort
by AlbionTrader