NY cocoa ends four-day slide with minor rebound

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 [...]

NY cocoa rallies from below the 20-day moving average to seven-week high

After reaching a three-month low at the start of November, Mar-21 NY cocoa pushed higher, finding resistance last week near $2,365 (Fibonacci retracement) and below $2,385 (the 20-day average). The contact fell back below those levels last week but rallied strongly in the last [...]

Cocoa spec position reaches six-month high

Mounting tension ahead of next month’s presidential election in Ivory Coast, coupled with a drier-than-normal little dry season—not to mention a significant weakening of the dollar—have combined to support continued fund buying of cocoa. In its most recent report, the Commodity Futures Trading Commission [...]