At the end of May, benchmark Sep-21 NY cocoa consolidated below its 20-day moving average but saw a four-day slide from last Wednesday to this Monday’s one-month low. After breaking support around $2,445 Monday and closing near its lower Bollinger Band, the contract rebounded slightly in an inside session Tuesday.
Sep-21 London cocoa trended lower in the last three weeks, closing this Monday at a one-month low, as well. The contract rebounded slightly Tuesday, finding retracement support around £1,605.
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