On Jun. 27, the Sep-23 NY cocoa contract closed at $3,258, the same as the previous day’s close but $2 below its open. Jun. 26’s session was a bounce back from the previous week’s sessions, which had the contract moving sideways and slipping. RSI is bearish; MACD and the stochastic are slightly bullish, with the latter in overbought territory. 

The Sep-23 London cocoa settled at a high at £2,532 on Jun. 26 and closed at £2,537 on Jun. 27 after sideways movement the previous week. A bearish RSI and the stochastic are showing an overbought signal. MACD is moderately bullish. 

The full version of this commentary appeared on our IQ platform Jun. 27, 2023. Further information, statistics, and pricing for the cocoa market are available to IQ subscribers. Learn more about becoming a subscriber.

Source: 123rf.com
Posted by: Information Services
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