NIB BUYING OPPORTUNITY - COCOA Nib is an ETN which invests in Cocoa futures. It has broken through a downward trendline. It appears to be setting up for an inverse head and shoulders.
Trading plan:
Buy around downward blue support line. Stop loss just under the support line.
Targets are at the neckline of the Inverse H&S and also at the previous high where the green arrow shows.
Based on my study of the patterns in cocoa, I believe Cocoa is one of the most bullish commodities at this time. What do you think?
CC2!
*** Unicorn ***This is where I lose all my Xmas present funds... and my house
... and the money i stole from my parents. There may be tears
... and no chocolate for the kids
CC2! Cocoa on the same support as 2008CC2! Cocoa on the same support hit on 2008 and not broken since.
The next days will be decisive to see if a big move will be made.
CC2! COCOA on the same support as 2008CC2! Cocoa on the same support hit on 2008 and not broken since.
The next days will be decisive to see if a big move will be made.
