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CC

[CC] Cocoa bull run is over ?Following an explosive surge that propelled Cocoa ( NYSE:CC ) to the $1000 mark, the price is now encountering resistance around this significant psychological level. Observing this resistance, there's anticipation for a correction towards the area of interest defined by my TP zone. While a revisit to the $1000 level in the coming days is plausible, it's probable that we'll witness a corrective phase following this impressive bull run. The market sentiment suggests a potential pullback as the price encounters resistance and investors book profits. In summary, while the short-term outlook may involve another touch of the $1000 level, caution is warranted as a correction seems increasingly likely in the aftermath of this remarkable uptrend in Cocoa ( NYSE:CC ). Great Trade !
ICEUS:CC1!Short
by ArnoSG
CC Cacao: Trade Commodity THIS EasterHi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Are you looking to make a trade out of Easter weekend? Look no further than Cocoa futures, or chocolate. Cocoa is a soft commodity that is used to produce chocolate, and it is traded on several global commodity exchanges. One of the most significant exchanges for trading cocoa futures is the ICE Futures US (Intercontinental Exchange Futures U.S.). The exchange offers futures contracts for cocoa, which allows investors to speculate on the future price of cocoa beans. The cocoa futures contract on the ICE Futures US is traded under the symbol CC. Each CC contract represents 10 metric tons of cocoa beans, and the contract price is quoted in U.S. dollars per metric ton. The contract months for trading cocoa futures are March, May, July, September, and December. The price of cocoa can be influenced by several factors, including supply and demand, weather conditions, and political instability in cocoa-producing regions. For example, adverse weather conditions, such as drought or flooding, can reduce cocoa yields and increase prices. Similarly, political unrest or conflicts in cocoa-producing countries can disrupt supply chains and lead to higher prices. Easter Weekend is a time known well for Easter bunny egg hunts and other chocolate delights, meaning that demand increases for cocoa in the months leading up to Easter. Considering that from a chart analysis the price of Cocoa has already increased over the past few months, it is the ideal time to consider a short right after Easter. Easter has become a global celebration, and many cultures around the world have their unique ways of celebrating the holiday. For example, in Greece, the week leading up to Easter is called "Holy Week," and it is a time of fasting and religious observances. On Easter Sunday, families gather to celebrate with a feast of lamb and other traditional foods. In the United States, Easter is celebrated with the Easter Bunny, who brings baskets of candy and treats to children. The Easter Bunny has its origins in German folklore, where it was a symbol of fertility and new beginnings. The tradition was brought to America by German immigrants in the 1700s. In many Latin American countries, Easter is celebrated with parades and processions, where people carry statues of Jesus and the Virgin Mary through the streets. In Spain, there is a tradition called "Semana Santa," or "Holy Week," which involves elaborate processions and celebrations. In India, the Christian community celebrates Easter by attending church services and exchanging gifts and greetings with friends and family. The holiday is also an opportunity for people of different faiths to come together and celebrate the arrival of spring. In conclusion, Easter is a holiday that is celebrated around the world as a time of new beginnings, renewal, and the victory of life over death. Whether celebrated with bunnies and candy or religious observances and parades, Easter is a time for people of all cultures and faiths to come together and celebrate the beauty and wonder of spring. _______________________ 📢 Show us some LOVE 🧡 Follow for daily updates and trade ideas on Crypto , Stocks , Forex and Commodities 💎 We thank you for your support ! CryptoCheck
ICEUS:CC1!Short
by CryptoCheck-
34
Overbought/Oversold BTC + fib levels This analysis is purely based on TA. The bottom pane indicator represents peaks and troughs of the dollar's correlation with BTC, but the dollar is valued against bonds and gold. This is due to it showing the demand for cash/capital against safe heavens, therefore illustrating the beginning and ends of different economic cycles (states). - Works by showing trend reversals or sudden increased strength of the trend at the purple middle line (correlation +above,-below) and it's peaks and troughs.
SP:SPXLong
by Sanzhar_m
1
#CC #Cocoa #Cacao Since mid-September CC has started an up-trending channel reaching above 2600. This is usually Put range to me: specs tend to sell at these levels reason being short term it is a peak. I would not be surprised if it would not hold. Would be interesting to see the put/call ratio at this level. On the other hand, much has been said about recession in these last weeks. Data flowing from Asia is not great (South Korea), as is some bigger names reporting earnings in the USA. Lots of layouts since 3q 2022 showing that there is not enough demand, or that businesses are getting ready for lower demand. That translates in non-essential items becoming secondary for consumers, in which chocolate can be included. Nevertheless, there has been strong demand in its raw material (cocoa) and as of this week positive data from US posting a relative better than expected GDP growth. As seen in other agricultural commodities, offer has been somewhat restrained due to higher cost of inputs (fertilizers), and harder commercial conditions worldwide (shipping). On the technical side, volume remains up and strong, both show support on its Short and Longer term MA. To see higher levels, CC would have to break above 2690. In the last 2 years, every time its hit above or at 2690 it has retreated back to its base line LB 2450. Desde mediados de septiembre, CC ha iniciado un canal de tendencia alcista que supera los 2600. Esto suele ser un rango Put para mí: los especuladores tienden a vender en estos niveles porque, a corto plazo, es un pico. No me sorprendería que no aguantara. Sería interesante ver la relación put/call en este nivel. Por otro lado, mucho se ha hablado de recesión en estas últimas semanas. Los datos que fluyen desde Asia no son excelentes (Corea del Sur), al igual que algunos nombres más importantes que reportan bajas ganancias en los EE. UU. Muchos despidos desde 3q 2022 muestran que no hay suficiente demanda o que las empresas se están preparando para una menor demanda. Eso se traduce en que artículos no esenciales pasen a ser secundarios para los consumidores, en los que se puede incluir el chocolate. Sin embargo, ha habido una fuerte demanda en su materia prima (cacao) y a partir de esta semana datos positivos de EE. UU. que muestran un crecimiento del PIB relativamente mejor de lo esperado. Como se ha visto en otros productos básicos agrícolas, la oferta se ha visto algo restringida debido al mayor costo de insumos (fertilizantes) y condiciones comerciales más duras en todo el mundo (logistica). En el aspecto técnico, el volumen se mantiene alto y fuerte, ambos muestran soporte en su media móvil de corto y largo plazo. Para ver niveles más altos, CC tendría que romper por encima de 2690. En los últimos 2 años, cada vez que toca por encima o llega a 2690, ha retrocedido a su línea base LB de 2450.
ICEUS:CC1!
by ejencalada
Short term analisis for cocoa #ccthe current pattern is considered a bearish pattern, volume becomes a key indicator. If volume breaks to the sell side, then there is a sell-off. I doubt such a move on a commodity, would not be surprised if it was a stock. This morning Reuters published how the energy crisis is hurting heavy industries such as BASF and other german companies, this no doubt is a bad sign. The war still rages on and shows more dangerous levels of engagement such as going nuclear. For what seems to be most unbelievable, iodine pills are running out in Europe and in the US. Cocoa depends on the sale of chocolate, and in this context, the grinding of cocoa in the EU and US has been lower reflecting lower consumption of chocolate. I have friends in Europe literally buying wood for the coming winter, this is to show that even in the midst of inflation, and higher prices, people are giving priority to stocking up on other things such as wood logs (energy crisis). Not an easy mood at the moment for these northern countries that are the major chocolate consumers. On the chart, we can now clearly see a bearish triangle forming since February 2022 and holding thin support above 2300 as it has already tested 2250 (STS2). Volume becomes crucial and these last weeks there's been more sell volume than buying volume. What are the odds that consumption goes chocolate crazy in the next coming weeks? Little. On the other hand, major commodity analysts are optimistic about cocoa saying smaller crops from Africa could positively impact price, or that US consumption is not as bad as thought. Bank analysts have a duty to sell and maybe they are being overly optimistic. The one support for optimism is speculators: in this arm of the trading range, it is attractive to go long as the downside can be seen as limited. I still think there can be more downside until we see better levels. El grafico actual se considera un patrón bajista, el volumen se convierte en un indicador clave. Si el volumen se rompe hacia la baja, entonces hay una venta masiva. Dudo que tal movimiento en una materia prima, no me sorprendería si fuera una acción bursatil. Esta mañana Reuters publicaba como la crisis energética está afectando a industrias pesadas como BASF y otras empresas alemanas, esto sin duda es una mala señal. La guerra aún continúa y muestra niveles de compromiso más peligrosos, como volverse nuclear. Por lo que parece más increíble, las pastillas de yodo se están acabando en Europa y en los Estados Unidos. El cacao depende de la venta de chocolate, y en este contexto, la molienda de cacao en la UE y EE.UU. ha sido menor reflejando un menor consumo de chocolate. Tengo amigos en Europa que literalmente compran madera para el invierno, esto es para mostrar que incluso en medio de la inflación y precios más altos, la gente está dando prioridad a abastecerse de otras cosas, como troncos de madera (crisis energética). No es un estado de ánimo fácil en este momento para estos países del norte que son los principales consumidores de chocolate. En el gráfico, ahora podemos ver claramente un triángulo bajista formándose desde febrero de 2022 y manteniendo un soporte delgado por encima de 2300, ya que ya ha probado 2250 (STS2). El volumen se vuelve crucial y estas últimas semanas ha habido más volumen de ventas que volumen de compras. ¿Cuáles son las probabilidades de que el consumo de chocolate se vuelva loco en las próximas semanas? Poco. Por otro lado, los principales analistas de materias primas son optimistas sobre el cacao y dicen que las cosechas más pequeñas de África podrían tener un impacto positivo en el precio, o que el consumo de EE. UU. no es tan malo como se pensaba. Los analistas financieros tienen el deber de vender y quizás estén siendo demasiado optimistas. El único apoyo para el optimismo son los especuladores: en este brazo del rango, es atractivo ir 'en largo' ya que la riesgo puede verse como limitada. Sigo pensando que puede haber más baja hasta que veamos mejores niveles.
ICEUS:CC1!Short
by ejencalada
Short term Cocao Analisis On the daily graph, #CC is attempting a break-out from its mid-February downhill from 2800 down to 2250. It has tried monthly to break through that resistance (RED) and failed, it is now on 9th of august attempting yet again. However, this time it looks more supportive as its MACD has turned positive since mid-July and better buy volumes also. Its short term moving average is also trying to turn positive. It is in process. On a longer-term chart, weekly, and which will be showing, the black arrow is attempting to reverse trend. It is so far a weak attempt, as averages are still far from giving any confirmation, and volumes are still largely negative. Nevertheless, higher lows can be a positive indication of a higher price if this tendency maintains itself. I would call this at the crossroad. En el gráfico diario, cacao está intentando romper de su descenso de mediados de febrero desde 2800 a 2250. Ha intentado romper mensualmente esa resistencia (ROJA) y ha fallado, ahora el 9 de agosto lo intenta una vez más. Sin embargo, esta vez parece mejor posicionado ya que su MACD se ha vuelto positivo desde mediados de julio y también muestra volúmenes de compra. Su promedio móvil a corto plazo también está tratando de volverse positivo. A largo plazo, periodo semanal, como se ve en el gráfico, la flecha negra indica que intenta revertir la tendencia. Hasta ahora, parece un intento débil, ya que los promedios aún están lejos de dar una confirmación y los volúmenes siguen siendo en gran medida negativos. Sin embargo, bajos más altos suele ser una indicación positiva de un precio más alto si esto se mantiene. Yo lo llamaría: la encrucijada.
ICEUS:CC1!
by ejencalada
Cocoa #CC Cacao Analysis I will start with Base Support (SB) which in my last analysis I said: ‘Base Support SB at 2315 still holds, if this breaks next support would be around 2200 ($80q) followed by 2150.’ On July 1, the price of CC touched the base support level, and bounced back up only to fall on July 7th again and close the week on the SB level. This is clearly not a positive and may be indicative of further weakness to come. Resistance D (red line) continues to serve as a ceiling and cocoa is still far from approaching this R. The MACD indicator is still showing a downward trend, as well as the EMA’s averages. Likewise, the DXY indicator (dollar) continues to rise, in this case weakening the price of cocoa. THERE IS NO CHANGE OF TREND at the moment but these next few days will be important. If cocoa fails to recover, we will be seeing new levels, possibly around $2,200 per ton or $80 per quintal. Europe & the US continue on a recessionary path with higher inflation. Consumption decreases as the purchasing power of the consumer is eroded and chocolate will most likely also be touched. Next week grinding data will be out and that will give us a clearer indication regarding the real health of the consumption of chocolate. If the volume of grindings remains the same or rises, then a positive, if they fall, it indicates that the recession is affecting the chocolate market, and consequently the purchase of its raw material, cocoa. Comienzo con el Soporte Base SB que en mi último análisis dije: ‘El soporte base SB de 2315 aún se mantiene, si este rompe el próximo soporte sería alrededor de 2200 ($80q) seguido de 2150.’ El 1 julio el precio del cacao tocó el nivel del soporte base, y rebotó con debilidad el 7 de julio para de nuevo recaer y cerrar la semana al SB. Esto claramente no es positivo y puede ser indicativo de mayor debilidad por venir. La resistencia D (roja) sigue sirviendo de techo y por lo visto aún está lejos de acercarse. El indicador MACD aún muestra una tendencia a la baja, así como los promedios EMA. Igualmente, el indicador DXY (dólar) se mantiene en alza debilitando en este caso el curso del cacao. NO HAY CAMBIO DE TENDENCIA por el momento pero estos proximos dias seran importantes. Sí el cacao no logra recuperarse estaremos viendo nuevos niveles posiblemente alrededor de $2200 por tonelada o $80 por quintal. Europa & EEUU siguen en una trayectoria recesionaria con mayor inflación. El consumo disminuye a medida que se erosiona la capacidad adquisitiva del consumidor y el chocolate también tendrá afectación. La próxima semana saldrán datos de moliendas y eso nos dará un indicativo más claro en cuanto al consumo real del chocolate. Si volumen de moliendas se mantiene o suben entonces un positivo, si bajan indicador de que la recesión está afectando el mercado del chocolate, y a consecuencia la compra de su materia prima el cacao.
ICEUS:CC1!
by ejencalada
$CC #Cc Cocoa Cocoa remains under strong downward pressure since May. It has failed to break above slope D. The averages are also holding a downtrend. SB base support at 2315 still holds, if this breaks the next support would be around 2200 ($80q) followed by 2150. MACD is approaching its first bounce level of -40, could make an attempt higher. Keep this in sight. If this indicator continues to drop then we may see -80 levels before cocoa attempts another bounce. Cocoa depends on the consumption of chocolate. In recent weeks, the US and the EU have reported strong increases in their inflation rate, which translates into less consumption of non-essential products such as chocolate. Another negative factor is the high cocoa stock reported this month by the US ICE stock exchange in its cocoa warehouses. The inverse relationship between the dollar index (DIX) and current commodities does not favor cocoa: the dollar index (orange line) increased to >105 when its normal average is around 96. Cacao se mantiene con una fuerte presión a la baja desde mayo. No ha logrado romper por encima de la pendiente D. Los promedios también sostienen una tendencia bajista. El soporte base SB de 2315 aún se mantiene, si este rompe el próximo soporte seria alrededor de 2200 ($80q) seguido de 2150. El MACD se acerca a su primer nivel de rebote de -40, podría hacer un intento al alza. Mantener esto en la mira. Si este indicador sigue a la baja entonces podremos ver niveles de -80 antes de que cacao intente otro rebote. El cacao depende del consumo de chocolate. En estas últimas semanas, EEUU y UE ha reportado incrementos fuertes de su tasa de inflación, eso se traduce en menos consumos de productos no esenciales como es el chocolate. Otro factor negativo es el alto stock de cacao reportado este mes por la bolsa ICE de EEUU en sus bodegas de cacao. La relación inversa entre el índice dólar (DIX) y las materias primas actual no favorece al cacao: el índice dólar (línea color naranja) incremento hasta >105 cuando su promedio normal es alrededor de 96.
ICEUS:CC1!
by ejencalada