As a group, international observers have not been shy about their concerns over Ivory Coast’s political stability ahead of the country’s presidential election. Ivory Coast saw civil wars in 2002 and 2011, and now the question is whether a third civil war could be triggered by a contentious election as hopes of a peaceful transition seem to dim.

Dec-20 NY cocoa futures lower corrected from above the upper Bollinger Band ahead of the holiday weekend and dipped further to trade near the 20-day moving average on Tuesday. On Wednesday, the contract seems to have found Fibonacci retracement support around $2,565. Technicals are bearish overall.

IQ subscribers, log in to read more.

NY ICE nearby cocoa futures


Source: DTN
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.