Weekly forecast, August 10 - 14
Uptrend
The uptrend may be expected to continue, while cocoa is trading above support level 2442, which will be followed by reaching resistance level 2800.
Downtrend
A downtrend will start as soon, as cocoa drops below support level 2442, which will be followed by moving down to support level 2205.
Quarterly forecast, July - September 2020
Uptrend
The uptrend may be expected to continue, while cocoa is trading above support level 2502, which will be followed by reaching resistance level 2800 and if it keeps on moving up above that level, we may expect the market to reach resistance level 3105.
Downtrend
A downtrend will start as soon, as cocoa drops below support level 2502, which will be followed by moving down to support level 2075 and if it keeps on moving down below that level, we may expect the market to reach support level 1800.
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