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Cocoa Technical Analysis - Cocoa Trading: 2021-03-19
Cocoa Technical Analysis Summary
Below 2507
Sell Stop
Above 2557
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Sell |
Cocoa Chart Analysis
Cocoa Technical Analysis
The #C-COCOA technical analysis of the price chart on 4-hour timeframe shows #C-COCOA,H4 is falling toward the 200-period moving average MA(200) which is declining. We believe the bearish momentum will continue after the price breaches below the lower Donchian boundary at 2507. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 2557. After placing the pending order the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (2557) without reaching the order (2507) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Commodities - Cocoa
Rainy weather in Ivory Coast is expected to boost cocoa production. Will the cocoa price slide continue?
Recent rainy weather in Ivory Coast are expected to boost cocoa crop of the world's largest cocoa producer. Above-average rains mixed with sun last week in most of Ivory Coast's cocoa-growing regions are supportive for cocoa crop. Farmers said that recent downpours would improve the size and quality of beans to be harvested from May to June. Rains were above average in Abengourou, known for the good quality of its beans, as well as the western region of Soubre at the heart of the cocoa belt, and in the southern region of Divo, where farmers said plenty of cherelles (young cocoa pods), small and average-sized pods were receiving enough moisture for a large mid-crop. Expectations of higher cocoa supplies is bearish for cocoa prices.
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