Evidence leans toward a bearish scenario due to the breakout below 9,200 and seasonal weakness in summer months. However, traders should remain open to bullish reversals, especially if institutional buying continues, and consider range-bound strategies if volatility stabilizes. Monitoring fundamental factors like weather in cocoa-producing regions and global demand trends will be crucial for a comprehensive strategy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.