NY cocoa may revisit September 22 low of $5,111
DBA•New York December cocoa may revisit its September 22 low of $5,111 per metric ton, as a bounce appears to have completed.
DBA•DBA•DBA•New York December cocoa may revisit its September 22 low of $5,111 per metric ton, as a bounce appears to have completed.
The bounce formed a rising wedge, described as a typical bearish continuation pattern, and the drop from $5,741 suggests the downtrend may continue. Resistance is at $5,426; a break above it may lead to a gain into the $5,501-$5,593 range.
