29th Jan - Looking For Next Support in Cocoa
29 January 2015
WEEKLY CHART –
CONTINUATION:
The pullback from the 76.4% level
has violated support offered by
the 2744 2012 high, and focus is
now on the bull channel projection
at 2650.
DAILY CHART – Mar-15:
Price has dropped smartly back
from resistance that came from
prior 3005/8 lows. Erosion of the
2780 Nov low has swivelled
bears’ eyes towards the first Fibo
projection at 2634, close to
support on the Weekly chart. We
await reaction around here.
Next story:
30th January - The bullish Bund
Previous story:
25th January - Sell the Euro, but how far?