Cocoa Weekly Forecast

This/Next Week Forecast (April 12 – 16, 2021)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2410, which will be followed by moving up to resistance level 2525 and 2665.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2410, which will be followed by reaching support level 2233 and 3160.

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 2160.

Chart Cocoa Stocks, Inventory

Monthly Forecast, April 2021

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2410, which will be followed by moving up to resistance level 2655.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2410, which will be followed by reaching support level 2160.

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

previous month forecast

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