
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)…