NOTE! This site uses cookies and similar technologies.

If you not change browser settings, you agree to it. Learn more

I understand
Tuesday, 23 June 2015 13:29

Is Cocoa's rally coming to an end?

Is Cocoa's rally coming to an end?
Due to production losses in Ghana, the cocoa future scored an impressive rally, coming close to the september 2014 high around 3390. RIght now, anyway, the rally seems to have lost much of its momentum: volume doesn't favor anymore the rising price, last Friday a clear upthrust bar appeared and a reliable volume indicator such as the Volume Zone Oscillator is currently showing a strong bearish divergence. Last but not least, the commercials' stance as reported in COT, the ratio with inverse correlated bond future and the Put/Call ratio, they're all definitely bearish. Just a caveat: rallies in cocoa are tradionally very resilient and the seasonality usually tops in august/september, not in july. So, let's trade it with caution...

cocoa daily chart 23.06.2015

Seguici su Twitter


Trading for Purpose RT @AheadoftheNews: NYSE adv/dec past 2 days. Note the strong opens which deteriorate as day progresses. distribution.…
Tuesday, 20 March 2018 06:37
Trading for Purpose RT @ttp_mailus: Cronos Group ($CRON) flies high in Wall Street. Apparently the cannabis business pleases investors. cannabis weed Medic…
Friday, 09 March 2018 10:43
Trading for Purpose RT @ttp_mailus: FOX has just won an Oscar for 'The Shape of Water'. Is the newly formed trading range a distribution or a riaccumulation?…
Monday, 05 March 2018 12:17
Trading for Purpose RT @ttp_mailus: The results of Italian elections begin to clear up and the FtseMib index struggles not to collapse. The ascending channel,…
Monday, 05 March 2018 11:12
Trading for Purpose RT @ttp_mailus: Usually the oil stocks index turns slightly earlier than crude oil itself. Recently XLE (blue line) turned south at end of…
Thursday, 01 March 2018 14:21