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New York December cocoa may test resistance at $5,829 per metric ton, with a break above potentially leading to a gain to $5,920. Extension toward $6,068 is possible on a break above $5,681, while a fall into the $5,533-$5,596 range is possible on a break below $5,596.
New York December cocoa (ICEUS:CC1!) may test resistance at $5,829 per metric ton. A break above this level could lead to a gain toward $5,920. Further analysis suggests a potential extension to $6,068 if a wave C from $5,054 continues to its 161.8% projection level. However, a break below $5,681 would alter this outlo