Cocoa Weekly Forecast

This/Next Week Forecast (March 1 – 5, 2021)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 2572, which will be followed by reaching resistance level 2665 – 2700.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2515, which will be followed by moving down to support level 2432 – 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 2800.

Chart Cocoa Stocks, Inventory

Monthly Forecast, March 2021

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 2410, which will be followed by reaching resistance level 2700 – 2800 and if it keeps on moving up above that level, we may expect the market to reach resistance level 3100.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2410, which will be followed by moving down to support level 2160.

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

previous month forecast

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