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Cocoa_trading

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