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Cocoa

Cocoa Futures (CCK2022), H4 Bearish DipType : Bearish Dip Resistance : 2608 Pivot: 2557 Support : 2456 Preferred case: We see the potential for bearish dip from our Pivot level at 2557in line 38.2% Fibonacci retracement towards our 1st Support at 2456 with a swing low support level. Our bearish bias is further supported by price trading below the Ichimoku cloud indicator. Alternative scenario: If price continues to go up, it can potentially move towards our 1st Resistance level at 2608 which is in line with with 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Fundamentals: No Major News.
ICEUS:CCK2022Short
by Genesiv
USCOCOA LONG - Buy Entry - D1 ChartUSCOCOA LONG - Buy Entry - D1 Chart Buy @ Market Symbol: USCOCOA Timeframe: D1 Type: BUY Entry Price: Buy @ Market TP - Resistance @ 2561.42 TP - Resistance @ 2620.59 TP - Resistance @ 2675.76 TP - Resistance @ 2754.21 PP Y1 - Pivot Point Yearly @ 2483.65 Support @ 2446.42 Support @ 2414.51 ✅ If you liked this analysis, please consider Following and giving it a Thumbs Up 👍 ✅ If you have any feedback or questions, please leave a comment below as I answer each comment. ✅ Wishing you enjoyable successful trading 🙏
ULong
by UnknownUnicorn35780991
Cocoa Futures (CCK2022), H4 Bullish ContinuationType : Bullish Continuation Resistance : 2708 Pivot: 2523 Support : 2452 Preferred case: We see the potential for bullish continuation from our Pivot level at 2523 in line 23.8% Fibonacci retracement towards our 1st Resistance at 2708 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where price trading near the support level. Alternative scenario: If price continues to drop, it can potentially move towards our 1st Support level at 2452 which is in line with 61.8% Fibonacci projection . Fundamentals: No Major News.
ICEUS:CCK2022Long
by Rockqet
Cocoa Futures (CCK2022), H4 Bullish BounceType : Bullish Bounce Resistance : 2593 Pivot: 2496 Support : 2449 Preferred case: Price is abiding by the ascending trendline. We see the potential for bullish bounce from our Pivot level at 2661 in line 61.8% Fibonacci projection towards our 1st Resistance at 2593 in line with 50% Fibonacci retracement. Our bullish bias is further supported by RSI indicator showing price moving along the ascending trendline. Alternative scenario: If price continues to drop, it can potentially move towards our 1st Support level at 2449 which is in line with 78.6% Fibonacci projection. Fundamentals: No Major News.
ICEUS:CCK2022Long
by Rockqet
COCOA D1: 50% Gains SWING setup BUY/HOLD(NEW)(SL/TP)Why get subbed to me on Tradingview? -TOP author on TradingView -2000+ ideas published -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -before/after analysis -24/7 uptime so constant updates 🎁Please hit the like button and 🎁Leave a comment to support our team! COCOA D1: 50% Gains SWING setup BUY/HOLD(NEW)(SL/TP) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. 🔸 Summary and potential trade setup ::: COCOA daily chart review ::: chart is LOG SCALE ::: compression into falling wedge ::: strong prior uptrend ::: 50% gains final TP BULLS ::: global inflation driving prices ::: also global warming heavy impact ::: cycle low for the market is near ::: BUY LOW near 1900/2000 USD ::: 12/24 months as global economy ::: is starting the recovery right now ::: BULLISH CYCLE is ON BUY DIPS ::: BUY/HOLD get paid / swing trade setup ::: BUY ANY DIPS / final TP BULLS is 3500 USD ::: 5% upside from current market price ::: WAIT for dips and reload (BULLS) ::: recommend to BUY/HOLD ::: recommended strategy: BUY/HOLD ::: bullish super cycle in coffee market ::: SWING trade setup do not expect ::: fast/miracle overnights gains here ::: good luck traders 🔸 Supply/Demand Zones ::: 2000/2200 USD fresh demand zone ::: 3500 USD fresh supply zone 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment short-term: BULLS / MORE GAINS ::: Sentiment outlook mid-term: BULLS / SUPER CYCLE RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
ICEUS:CC1!Long
by ProjectSyndicate
20
COCOA WK1: 200% Gains SWING setup BUY/HOLD(NEW)(SL/TP)Why get subbed to me on Tradingview? -TOP author on TradingView -2000+ ideas published -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -before/after analysis -24/7 uptime so constant updates 🎁Please hit the like button and 🎁Leave a comment to support our team! COCOA WK1: 200% Gains SWING setup BUY/HOLD(NEW)(SL/TP) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. 🔸 Summary and potential trade setup ::: COCOA WK1 chart review ::: chart is LOG SCALE ::: compression into falling wedge ::: strong prior uptrend ::: 200% gains final TP BULLS ::: global inflation driving prices ::: also global warming heavy impact ::: cycle low for the market is near ::: BUY LOW near 1900/2000 USD ::: 12/24 months as global economy ::: is starting the recovery right now ::: BULLISH CYCLE is ON BUY DIPS ::: BUY/HOLD get paid / swing trade setup ::: BUY ANY DIPS / final TPBULLS is 5400 USD ::: 200% upside from current market price ::: WAIT for dips and reload (BULLS) ::: recommend to BUY/HOLD ::: recommended strategy: BUY/HOLD ::: bullish super cycle in coffee market ::: SWING trade setup do not expect ::: fast/miracle overnights gains here ::: good luck traders 🔸 Supply/Demand Zones ::: 100USD fresh demand zone ::: 300USD fresh supply zone 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment short-term: BULLS / MORE GAINS ::: Sentiment outlook mid-term: BULLS / SUPER CYCLE RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
ICEUS:CC1!Long
by ProjectSyndicate
15
Cocoa futures find support at 2334.00Cocoa previously reversed up from the support level 2334.00 (which has been reversing the price from last November) – standing close to the lower daily Bollinger Band and the major multi-month support level 2315.00. The price earlier reversed up from the same support level 2334.00 creating the daily Piercing Line Japanese candlesticks reversal pattern – highlighted below. With oversold daily Stochastic at 18.6 – further gains are likely.
ICEUS:CCN2021
by SelectedAlpha
LONDON Cocoa Future C1! - Short Term AnalysisPrices have been in a squeeze for a very long time ... The last days of this scramble will be like the middle of June. Prices will probably decide which way to go by this date, Up or down? In this sense; It is worth watching the 1840-1890 band for prices that are supported by the 50-day exponential average. However, we would expect prices to hold on to 1690 and then 1650 in a repeat selling pressure. It contains only personal views and opinions. Does not contain legal investment advice ...
ICEEUR:C1!
by EmoteK
COCOA is tapping on the resistance of recent trading rangeNIB (cocoa ETN) is pushing against the top of the trading range. Cocoa has been consolidating for around two month now. Since I am long term bullish on agricultural commodities such as cocoa, if/when the top of the range is taken out, I expect quick run up as most of these commodities tend to have unidirectional run. First target is $32.80 range and next is the yellow down trend line. When and if that trend line is taken, I expect bigger upward move. Have a good trade everyone, T.
NLong
by TK0421
Weekly cocoa market review 12/21/2020.Support us by consulting our free magazines with color stock charts and weather maps on our commodity-market-review.com website. TECHNICAL ANALYSIS OF COCOA Last week, ICE U.S. cocoa futures closed lower at $2,506 a ton. Cocoa prices fell sharply last week from over $2,650 to just $2,500. Even the falling dollar could not provide support for cocoa. Last week was therefore a weather-oriented market. Indeed, above-average rains combined with sunny periods in most cocoa-growing areas of Ivory Coast should improve the quality and size of beans at the end of the main harvest. Ivory Coast, the world's leading cocoa producer, is in the dry season, which runs from mid-November to March, when rains are normally light and infrequent. Producers welcomed a second consecutive week of good rains, which they say will trigger a new flowering mid-harvest from April to September and also boost the yield of the last stage of the main crop from October to March. Farmers said they expected large volumes of beans to leave the bush until the end of January. Fears of reduced demand with an ICCO report predicting a surplus in the 2020/21 crop and a crop that looks good explain last week's drop. For the 2020/21 season, the arrivals in Ivorian ports are 996K tons as of November 22, against 883K tons at the same period the previous season. Cocoa stocks are down to 2908 thousand bags of 60 Kg. The International Cocoa Organization ICCO has revised down the cocoa surplus to 19,000 tons compared to a previous forecast of 42,000 tons. The ICCO estimated world cocoa production at 4.697 million tonnes, about 27,000 tonnes less than its previous forecast. World cocoa grindings are forecast at 4,631 thousand tonnes, 4 thousand less. On the international level, the Republican leader of the Senate Mitch McConnell announced Sunday evening that an agreement of 900 billion would have been reached. The Fed said its stock purchases would continue at the current rate of $120 billion per month until substantial additional progress has been made. The brexit saga continues, with the European Parliament's Sunday night deadline for a deal passed, but negotiations will continue. No one seems to want to take responsibility for a possible failure. After Pfizer, the FDA also approved Moderna's vaccine. As far as the pandemic is concerned, the vaccination campaign has started in the United States. The new strain of coronavirus detected in Great Britain worries, it would be 70% more contagious. The global death toll is rising, we have just passed 76 million cases worldwide, with more than 1.692 million deaths. The United States is still the most affected country, with 317,000 deaths and more than 17 million cases. The Dollar fell last week, with the DXY closing lower at 89.924, hitting a 2 1/2 year low. The long-term trend is still bearish. WEATHER IN WEST AFRICA Ivory Coast and Ghana experienced above normal rainfall in October with an average rainfall of more than 150mm. They were more mixed in November. The southern parts of these 2 countries received above normal rainfall and the northern parts were 50mm below normal. Cocoa trees are more affected by rainfall than any other climatic factor. The dry season started in Ivory Coast and Ghana and lasts from mid-November to March. Producers hope that the Harmattan will not come too early this year. It is a dusty wind from the northeast of the Sahara that blows during the dry season. Harmattan can have a negative impact on crops. The wind would already be present in the northern part of the country, which explains why rainfall was already more concentrated in the coastal areas. Last week, the rains were higher than normal. ICE US CERTIFIED COCOA STOCKS Cocoa stocks are down to 2908 against 2967 thousand 60 kg bags last week. ICE US and EU cocoa stocks are above last season's stocks at the same period. THE DOLLAR The DXY index representing the Dollar against a basket of foreign currencies closed last week down to 89.924, hitting a 2 1/2 year low. The long-term trend is still bearish. The possibilities of reaching an agreement on a contingency plan to support the U.S. economy, as well as the possibility of an economic recovery, are expected to continue. Disappointing economic results weighed on the currency last week. Indeed, U.S. Retail Sales down to -0.9% and Unemployment Claims up to 885K disappointed. A low dollar is generally favorable for dollar-denominated commodity markets. COMMITMENTS OF TRADERS The weekly COT (Commitments of Traders) report of the Commodity Futures Trading Commission (CFTC) shows all the positions opened by all market participants. The COT report is published on Friday, and reflects the open positions on Tuesday of the same week. It shows the position of commercial traders (producers, commodity buyers, ...) but also non-commercial (speculators). The net positions of speculators on the futures markets are particularly interesting to observe. The speculative net position on the cocoa futures markets is up this week to 34.575 K instead of 32.379 K.
ICEUS:CC1!
by Commodity-market-review
Weekly cocoa market review 12/14/2020.Support us by consulting our free magazines with color stock charts and weather maps on our commodity-market-review.com website. TECHNICAL ANALYSIS OF COCOA Last week, ICE U.S. cocoa futures closed lower at $2,622 a ton. Ivory Coast lifts suspension of sustainability programs imposed on industrialist Hershey. Indeed, the U.S. chocolate maker has committed to pay the LID, a premium introduced by Ghana and Ivory Coast to ensure a decent income for producers. This marks a break in the tensions between the two countries and the manufacturer. Cocoa prices fell to 2520 dollars per ton, before recovering over the weekend regaining 100 dollars in 2 sessions. The downward movement seems to be running out of steam between the hopes brought by the vaccine, the vaccination campaigns that will follow, and low ICE stocks. Cocoa stocks are down to 2967 thousand 60 kg bags. The International Cocoa Organization ICCO has revised the cocoa surplus downward to 19,000 tons from a previous forecast of 42,000 tons. The ICCO estimated world cocoa production at 4.697 million tonnes, about 27,000 tonnes less than its previous forecast. World cocoa grindings are forecast at 4,631 thousand tonnes, 4 thousand less. The dry period in West Africa has begun and runs from mid-November to March. Producers fear the arrival of the Harmattan. It is a dusty wind coming from the northeast of the Sahara and which blows during the dry season. The above-normal rainfall last week, however, improves the prospects for the end of the main harvest between January and March, and reassures producers in the more central parts of Ivory Coast, which had received less rain. Ivory Coast seems to have turned the page on its troubled presidential election, and it is now the turn of its neighbor and world's second largest cocoa producer Ghana. President Nana Akufo-Addo is re-elected, but the opposition rejects the results of a close ballot. Half a million votes separate the incumbent president and his opponent, John Mahama. Internationally, the ECB has increased its asset repurchase program by $500 billion, the U.S. support plan is still slow in coming, and a brexit no-deal is increasingly likely. The FDA in turn is approving the use of Pfizer's vaccine, and vaccination begins this week in the US. In terms of the pandemic update, we have just surpassed 72 million cases worldwide, with more than 1.607 million deaths. The U.S. is still the most affected country, and will approach and surpass the 300,000 mark in deaths and more than 16 million cases. The Dollar consolidated last week as the DXY closed higher at 90.976, with the long-term trend still bearish. WEATHER IN WEST AFRICA Ivory Coast and Ghana experienced above normal rainfall in October with an average rainfall of more than 150mm. They were more mixed in November. The southern parts of these 2 countries received above normal rainfall and the northern parts were 50mm below normal. Cocoa trees are more affected by rainfall than any other climatic factor. The dry season started in Ivory Coast and Ghana and lasts from mid-November to March. Producers hope that the Harmattan will not come too early this year. It is a dusty wind from the northeast of the Sahara that blows during the dry season. Harmattan can have a negative impact on crops. The wind would already be present in the northern part of the country, which explains why rainfall was already more concentrated in the coastal areas. Last week's above-normal rainfall of more than 25 mm in some areas has reassured producers. ICE US CERTIFIED COCOA STOCKS Cocoa stocks are down to 2967 from 3048 thousand 60 kg bags last week. ICE US and EU cocoa stocks are above last season's stocks at the same period. THE DOLLAR The DXY index representing the Dollar against a basket of foreign currencies closed last week up at 90.976, although the long-term trend is still bearish. The DXY consolidated last week. The ECB increased its asset repurchase program by $500 billion, and, the U.S. support plan is still lagging behind, still failing to agree on emergency aid of just over $900 billion. The dollar has also strengthened against the pound sterling, on an increasingly likely no-deal, as the disagreements seem so deep. A low dollar is generally favorable to dollar-denominated commodity markets. COMMITMENTS OF TRADERS The weekly COT (Commitments of Traders) report of the Commodity Futures Trading Commission (CFTC) shows all the positions opened by all market participants. The COT report is published on Friday, and reflects the open positions on Tuesday of the same week. It shows the position of commercial traders (producers, commodity buyers, ...) but also non-commercial (speculators). The net positions of speculators on the futures markets are particularly interesting to observe. The speculative net position on the cocoa futures markets is down this week to 32.379 K instead of 35.147 K.
ICEUS:CC1!
by Commodity-market-review