Cocoa has been trading on a multi-year Channel Up since May 2017 with the 1D chart trading near the overbought territory (RSI = 70.555, MACD = 51.220, Highs/Lows = 144.4643).
If the Channel stays intact then the price should pull back towards the 1D MA200 for a Higher Low near 2,365. If however it breaks as it did in March 2018 then it can easily reach 2,940 which is the 2 year high. We have identified 2,700 as this break out point. You may trade accordingly with a tight SL.
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If the Channel stays intact then the price should pull back towards the 1D MA200 for a Higher Low near 2,365. If however it breaks as it did in March 2018 then it can easily reach 2,940 which is the 2 year high. We have identified 2,700 as this break out point. You may trade accordingly with a tight SL.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
Telegram: t.me/investingscope
investingscope.com
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.