Cocoa Thursday Forecast

Thursday Forecast

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2514, which will be followed by moving up to resistance level 2600.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2514 which will be followed by reaching support level 2410.

Chart Cocoa Forecast 2020, Long-term Technical Analysis and Outlook

This/Next Week Forecast (January 4 – 8, 2021)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2665, which will be followed by moving up to resistance level 2800.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2665, which will be followed by reaching support level 2410.

Chart Cocoa Forecast 2020, Long-term Technical Analysis and Outlook

previous week forecast

Fundamental Analysis

Difference between supply and demand shows fair price at the level 2400.

Chart Cocoa Stocks, Inventory

Monthly Forecast, January 2021

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2665, which will be followed by moving up to resistance level 2800.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2665, which will be followed by reaching support level 2410 and if it keeps on moving down below that level, we may expect the market to reach support level 2160.

Chart Cocoa Forecast 2020, Long-term Technical Analysis and Outlook

previous month forecast

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