Cocoa Drop Hits Long Term 76.4% Support
15 December 2011
MONTHLY CHART - CONTINUATION
Earlier supports on the long term chart failed and the market has now tested the 76.4% level just beneath 1900. We wait to see what support emerges here.
DAILY CHART - Mar-12:
The downmove here picked up pace and, following breach of the bear channel base projection, the Daily chart structure shows little in the way of bear fatigue.
First interesting resistance is offered by the old channel base just under 2400, ahead of the 2563 18-Oct low.
Currently the interest is as much in the longer term chart above.
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