Cocoa Daily Jun 17, 2024

New York Cocoa (CC) slid more than 2% Friday (on the September contract) with the daily Hammer reversing higher after briefly breaking below upchannel support (on the 4hr chart). The June high Thursday may very well hold for the balance of the month with CC unable to close Friday above the psychologically key 10k whole figure level…

Cocoa Daily Jun 14, 2024

New York Cocoa (CC) edged lower yesterday (on the September contract) with the daily Gravestone reversing after forming a fresh June intraday high. The psychologically key 10k whole figure level may have capped the rally from the May low for June, with further healthy consolidation likely for next week…

Cocoa Daily Jun 11, 2024

New York Cocoa (CC) slid more than 2% yesterday (on the July contract) on healthy profittaking after Monday’s fresh June high. With yesterday’s rejection at the psychologically key 10k whole figure level, CC’s red June candle is suddenly becoming a Gravestone (as can be seen on a continuous monthly chart on tradingview.com)…

Cocoa Daily Jun 4, 2024

New York Cocoa (CC) gained more than 1.5% yesterday (on the July contract) breaking above the May high. Nevertheless, with yesterday’s intraday reversal lower after briefly testing the psychologically key 10k whole figure level, the tentative monthly Gravestone’s upper shadow is lengthening (as can be seen on a continuous monthly chart on tradingview.com)…