After cocoa broke to the upside; what are the near term targets?
After cocoa broke the downward trend channel a few weeks ago, we have seen it break to the upside from 3100 to 3330.
*Upside target/resistance levels:
- previous high around 3400
- Upper Bollinger Bands
- the 20 day MA is just below the 50 day MA, but hasn't crossed yet.
Noteworthy:
- As of today, we made a new high, but RSI and Stochastik haven't made a high, so a divergence is forming here.
- Also the Z15/H16 future spread is softer at +12 from last couple weeks high at +16
Seems like a little more upside left for now, but resistance mounting
*Upside target/resistance levels:
- previous high around 3400
- Upper Bollinger Bands
- the 20 day MA is just below the 50 day MA, but hasn't crossed yet.
Noteworthy:
- As of today, we made a new high, but RSI and Stochastik haven't made a high, so a divergence is forming here.
- Also the Z15/H16 future spread is softer at +12 from last couple weeks high at +16
Seems like a little more upside left for now, but resistance mounting
Penerbitan berkaitan
Penafian
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Penerbitan berkaitan
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.