ICE Cocoa: DEC17
AD Financial Corp. | Sep 26, 2017 02:56AM ET
The major cocoa trend still showing bearish tendency,The 4 months consolidation within a triangle formation is considered a pause before the bear market resumes. The triangle has completed 4 legs so far [ A,B,C,D], the 5th leg "E" is underway with possible to be short and don't reach the upper bound of the triangle. A clear close below 1820 will indicate the end of the consolidation and will accelerate the downward move toward 1600-1550.
A clear break of 2127 will abort the above bearish scenario and open window for a market rally toward 2300+.
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