Image Source: Unsplash

Cocoa futures prices have rallied sharply over the past year.

And the rally has really heated up over the past 3 months.

Today we look at a “monthly” chart of Cocoa to highlight this rare and sharp rally.

As you can see, hot Cocoa has gained 100% quickly

after breaking out of a 23-year sideways trading pattern.

The strong rally has it testing its 261% fibonacci extension level this month.

What this pattern looks like in a week (end of month) could be important to several markets! 

(Click on image to enlarge)

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