Daily cocoa analysisDaily CC analysis
Sell trade with target and stop loss as shown in the chart
C1! trade ideas
Daily cocoa analysisDaily cocoa analysis
Sell trade with target and stop loss as shown in the chart
Daily cocoa analysisDaily cocoa analysis
Sell trade with target and stop loss as shown in the chart
COCOA FUTURESA strong breakdown of grandfather's strong calling levels and the start of a drop to the lowest points or demand areas that in turn are considered strong calling
LongBuy at the strong support zone 2420-2440
=> Stop loss if 2400 is broken (risk range 200-400$
=> Take profit target area 2555 or further area is 2653
=> RR ratio (RISK - REWARD) 1:4 - 1:7. The PROFIT brought back 7 times the RISK.
COCOA FUTURESCocoa within the Strong Grandfather Bounce Zone has broken a very strong important support and we are likely to see acceleration down and strong selling opportunities
Chocolate - Elon MuskElon Musk tweet: "Chocolate milk is insanely good. Just had some." 09.05.2022
twitter.com
I think Elon Musk is trying to tell us that cocoa is a good investment right now :D I agree with the idea.
not investment advice!
Cocoa Tecnical analisis on cocoa trend: Cacao rompe soporte de su canal inferior de 2500 cerrando en 2455 (contratos de Julio). Próximo soporte S1 en 2400, S2 en 2300. Promedios de media móvil ahora en negativos, reflejando una tendencia bajista a corto plazo. También más volumen de venta que de compra, otro factor para la baja.
$CC #Cocoa #Cacao Short term analysis of cocoa market trend giving the latest information on the commodity. DXY and VIX must be taken into account.
Cocoa update -24/04/2022upside focus remains, looking for a strong move higher in wave ((iii)) of 1 of (3), key level at 2453, critical support at 2333.
Cocoa Futures (CC1! ), H1 Potential for Bearish ReversalType: Bearish Reversal
Resistance: 2645
Pivot: 2607
Support: 2557
Preferred case: We see the potential for a bearish reversal from our pivot level at 2607 which is in line with 38.2% Fibonacci retracement and 100% Fibonacci projection towards our 1st support level at 2557 which is in line with 100% Fibonacci projection along with a graphical swing low support. Our bearish bias is further supported by price trading below the Ichimoku cloud indicator.
Alternative scenario: Alternatively, the price might break our pivot structure and head for 1st resistance level at 2645 in line with 61.8% Fibonacci retracement .
Fundamentals: No major news.
Cocoa Futures (CC1! ), H1 Potential for Bearish ReversalType: Bearish Reversal
Resistance: 2645
Pivot: 2607
Support: 2557
Preferred case: We see the potential for a bearish reversal from our pivot level at 2607 which is in line with 38.2% Fibonacci retracement and 100% Fibonacci projection towards our 1st support level at 2557 which is in line with 100% Fibonacci projection along with a graphical swing low support. Our bearish bias is further supported by price trading below the Ichimoku cloud indicator.
Alternative scenario: Alternatively, the price might break our pivot structure and head for 1st resistance level at 2645 in line with 61.8% Fibonacci retracement.
Fundamentals: No major news.
Cocoa update - 13/04/2022upside focus remains, looking for a strong move higher in wave (iii) of ((iii)).
Cocoa Futures (CCK2022), H1 Bullish BounceType : Bullish Bounce
Resistance : 2639
Pivot: 2552
Support : 2500
Preferred Case: Price is near pivot level of 2552 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially bounce up to the 1st resistance level of 2639, in line with 78.6% Fibonacci projection, along with a graphical swing high resistance. Our bullish bias is further supported by stochastic indicator where price is near resistance level.
Alternative scenario: Price might continue to drop towards the 1st support level of 2500 in line with 78.6% Fibonacci projection.
Fundamentals: No Major News
Cocoa Futures (CCK2022), H1 Bullish BounceType : Bullish Bounce
Resistance : 2647
Pivot: 2558
Support : 2502
Preferred case: We see the potential for bullish bounce from our Pivot level at 2558 in line 50% Fibonacci retracement towards our 1st resistance level at 2647 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by price trading above the Ichimoku cloud indicator.
Alternative scenario: If price continues to dip towards our 1st support level at 2502 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci projection.
Fundamentals: No Major News.
Cocoa Futures (CCK2022), H1 Bearish ReversalType : Bearish Reversal
Resistance : 2673
Pivot: 2651
Support : 2605
Preferred case: We see the potential for bearish reversal from our Pivot level at 2651 in line 78.6% Fibonacci retracement and 78.6% Fibonacci projection towards our 1st Support at 2605 in line with 23.6% Fibonacci retracement . Our bearish bias is supported by the stochastic indicator where it is at resistance level .
Alternative scenario: If price continues to go up, it can potentially move towards our 1st Resistance level at 2673 which is in line with 100% Fibonacci projection .
Fundamentals: No Major News.
Cocoa Futures (CCK2022), H1 Bearish ReversalType : Bearish Reversal
Resistance : 2673
Pivot: 2651
Support : 2605
Preferred case: We see the potential for bearish reversal from our Pivot level at 2651 in line 78.6% Fibonacci retracement and 78.6% Fibonacci projection towards our 1st Support at 2605 in line with 23.6% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where it is at resistance level.
Alternative scenario: If price continues to go up, it can potentially move towards our 1st Resistance level at 2673 which is in line with 100% Fibonacci projection.
Fundamentals: No Major News.
Cocoa Futures (CCK2022), H4 Bearish DipType : Bearish Dip
Resistance : 2608
Pivot: 2557
Support : 2456
Preferred case: We see the potential for bearish dip from our Pivot level at 2557in line 38.2% Fibonacci retracement towards our 1st Support at 2456 with a swing low support level. Our bearish bias is further supported by price trading below the Ichimoku cloud indicator.
Alternative scenario: If price continues to go up, it can potentially move towards our 1st Resistance level at 2608 which is in line with with 61.8% Fibonacci retracement and 61.8% Fibonacci projection.
Fundamentals: No Major News.
Cocoa Futures (CCK2022), H4 Bullish ContinuationType : Bullish Continuation
Resistance : 2708
Pivot: 2523
Support : 2452
Preferred case: We see the potential for bullish continuation from our Pivot level at 2523 in line 23.8% Fibonacci retracement towards our 1st Resistance at 2708 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where price trading near the support level .
Alternative scenario: If price continues to drop, it can potentially move towards our 1st Support level at 2452 which is in line with 61.8% Fibonacci projection .
Fundamentals: No Major News.
Cocoa Futures (CCK2022), H4 Bullish ContinuationType : Bullish Continuation
Resistance : 2708
Pivot: 2523
Support : 2452
Preferred case: We see the potential for bullish continuation from our Pivot level at 2523 in line 23.8% Fibonacci retracement towards our 1st Resistance at 2708 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where price trading near the support level.
Alternative scenario: If price continues to drop, it can potentially move towards our 1st Support level at 2452 which is in line with 61.8% Fibonacci projection .
Fundamentals: No Major News.
Cocoa Futures (CCK2022), H4 Bullish BounceType : Bullish Bounce
Resistance : 2593
Pivot: 2496
Support : 2449
Preferred case: Price is abiding by the ascending trendline. We see the potential for bullish bounce from our Pivot level at 2661 in line 61.8% Fibonacci projection towards our 1st Resistance at 2593 in line with 50% Fibonacci retracement . Our bullish bias is further supported by RSI indicator showing price moving along the ascending trendline.
Alternative scenario: If price continues to drop, it can potentially move towards our 1st Support level at 2449 which is in line with 78.6% Fibonacci projection .
Fundamentals: No Major News.
