NY December cocoa may revisit Sept 22 low at $5,111
Reuters technical analysis says NY December cocoa could revisit its Sept 22 low of $5,111/mt after a bounce that formed a rising wedge.
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NY cocoa may revisit September 22 low of $5,111
New York December cocoa ICEUS:CC1! may revisit its September 22 low of $5,111 per metric ton, as a bounce from this level seems to have completed.The bounce was shaped into a rising wedge, a typical bearish continuation pattern. The deep drop from $5,741 strongly suggests a continuation of the down…