NY cocoa could break support near $5,776 and drop toward $5,529
TradingView News says New York December cocoa may break support at $5,776 per metric ton and fall toward $5,529. It notes prior bounces above that level as a pullback toward a rising trendline, tied to a three-wave cycle that previously referenced $6,821.
New York December cocoa on ICEUS:CC1! may break support at $5,776 per metric ton and move toward $5,529. Moves back above that support are being treated as a pullback toward an upward trendline. The rebounds were partly driven by wave b, the second wave in a three-wave cycle from $6,821.
That wave is expected…