Cocoa Daily analysis 7-9-22Cocoa Daily looks difficult wave structure. Counting looks confusing to me at some point. Still the structure gives hope to go down further before moving up really higher value.
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Cocoa the soft commodity future monthly EWCocoa the soft commodity is a bean which is fully dried seed and cocoa that we consume are extracted from it. The prices have come higher and made an important structure which ensures future price increase. It looks there will be much more demand for the beans than the production capacity.
Cocoa LongOm Namah Shivay
Cocoa may go up for long if does not go below 2424 and moves above 2511. Immediate target can be 2619 through 2511, 2574.
Om Namah Shivay
#CC_F $CC_F #Cocoa - BULL SPREADCocoa is low and reached an interesting support about 2,000. I expect even lower price and then there will be a great potential for a bullish mood in the market. Bull spread CCH19-CCK19 offers high RRR of 1:3. ENTRY 15 or lower, PT 0 ($150/contract), SL 20 ($50/contract).
#CC_F $CC_F #Cocoa - LONGCocoa is low and reached an interesting support about 2,000. I expect even lower price and then there will be a great potential for a bullish mood in the market.
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Summarizing what the indicators are suggesting.
Neutral
SellBuy
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Strong sellSellNeutralBuyStrong buy
Neutral
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Strong sellSellNeutralBuyStrong buy
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The current price of Cocoa Futures is 10,035 USD — it has risen 2.73% in the past 24 hours. Watch Cocoa Futures price in more detail on the chart.
Track more important stats on the Cocoa Futures chart.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For Cocoa Futures this number is 0.00. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for Cocoa Futures shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for Cocoa Futures. Today its technical rating is buy, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of Cocoa Futures technicals for a more comprehensive analysis.