- Analytics
- Technical Analysis
Cocoa Technical Analysis - Cocoa Trading: 2021-06-29
Cocoa Technical Analysis Summary
Below 2337
Sell Stop
Above 2413
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
Cocoa Chart Analysis
Cocoa Technical Analysis
The #C-COCOA technical analysis of the price chart on daily timeframe shows #C-COCOA,Daily is retreating under the 200-period moving average MA(200) which is declining itself. We believe the bearish momentum will continue after the price breaches below the lower Donchian boundary at 2337. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 2413. 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 (2413) without reaching the order (2337) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Commodities - Cocoa
Ghana’s record crop is weighing on price. Will the cocoa price slide continue?
Ghana farmers harvested 965,493 metric tons by June 3, compared with a target of 900,000 tons for the whole crop year that ends in September, according to Bloomberg. It is the biggest cocoa harvest in a decade for the world’s second largest cocoa producer. This places Ghana easily within the reach of the 1 million-ton mark, which was last attained in 2010-11. Expectations of higher cocoa supplies is bearish for cocoa prices.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Stop Out Level - Only 10%
Ready to Trade?
Open Account Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.