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CC1! trade ideas

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
USa Cocoa commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
ICEUS:CC1!
by Sunstorminvest
$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
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.
ICEUS:CC1!
by Tickmill
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.
ICEUS:CC1!Short
by Genesiv