Seven-day rally takes cocoa futures to two-week high

On Wednesday, Jul 28, nearby Sep-21 NY cocoa closed above retracement resistance near $2,400 and $2,410 after a seven-session rally. The contract briefly tested retracement resistance and the upper Bollinger Band around $2,450 but settled instead below the mid-July high of $2,430. The contract may [...]

Cocoa futures markets looking for direction?

After a four-week low Tuesday, Jul-21 NY cocoa consolidated later in the week below its 20-day moving average, closing the week straddling Fibonacci retracement support above $2,410. Jul-21 London cocoa closed Thursday at a four-week low but was likely to rebound slightly in an [...]

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