Wednesday, February 15, 2017

Cocoa (update)

The March contract rolled into May, so I have to adjust my numbers a bit.  Yesterday, we formed a star doji pattern.  This is the first sign of exhaustion on the recent sell-off.  Shorts should consider some profits down here.  I'm also showing possible support between 1845 and 1890, which is the very bottom of my support zone.   If we break through these levels, then I will have to re-analyze this market further.

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