Cocoa Daily looks difficult wave structure. Counting looks confusing to me at some point. Still the structure gives hope to go down further before moving up really higher value.
Cocoa the soft commodity is a bean which is fully dried seed and cocoa that we consume are extracted from it. The prices have come higher and made an important structure which ensures future price increase. It looks there will be much more demand for the beans than the production capacity.
Om Namah Shivay
Cocoa may go up for long if does not go below 2424 and moves above 2511. Immediate target can be 2619 through 2511, 2574.
Om Namah Shivay
Cocoa is low and reached an interesting support about 2,000. I expect even lower price and then there will be a great potential for a bullish mood in the market. Bull spread CCH19-CCK19 offers high RRR of 1:3. ENTRY 15 or lower, PT 0 ($150/contract), SL 20 ($50/contract).
Cocoa is low and reached an interesting support about 2,000. I expect even lower price and then there will be a great potential for a bullish mood in the market.
