mjhillpp

After cocoa broke to the upside; what are the near term targets?

ICEUSA:CC2!   None
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
Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.