Cocoa (CC) Consolidates Just Above Key 2600 Level

Cocoa (CC) consolidated for a 3rd straight day yesterday with its daily Doji, continuing to gear up for a retest of last week’s 2021 high. Significantly, CC has been trying to extend its Bull Flag (on the weekly chart) from near the psychologically key 2600 whole figure level and prior downchannel resistance (on the weekly chart), with bulls increasingly eyeing the 2020 high formed in February by year end…

Cocoa (CC) Consolidates After Forming New 2021 High

Cocoa (CC) slid more than 1.5% yesterday, getting rejected at upchannel/ascending wedge resistance (on the 4hr chart) and upchannel resistance (on the daily chart). Significantly, CC is seeing healthy profittaking after forming a fresh 2021 high Wednesday, consolidating as well the break last week above a downchannel resistance (on the weekly chart connecting the November, March and May highs)…