Title: Cocoa Futures ( CC1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 2542
Pivot: 2422
Support: 2475
Preferred case: Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to head back up to retest the resistance at 2542, where the 78.6% Fibonacci line and previous high are.
Alternative scenario: Price may go back down to retest the support at 2475, where the 50% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 2542
Pivot: 2422
Support: 2475
Preferred case: Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to head back up to retest the resistance at 2542, where the 78.6% Fibonacci line and previous high are.
Alternative scenario: Price may go back down to retest the support at 2475, where the 50% Fibonacci line is.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.