Would You Buy Something That Is Getting Scarce
Alexandros Yfantis | Aug 29, 2012 07:36AM ET
COCOA is something that will be featured many times in future posts. For now I just want to make an small introduction to my first post regarding this commodity.
My long-term view is extremely bullish for COCOA as long as prices stay above $2000 per Metric Ton (MT). I target $3000 for short to medium-term. For the time being $2400 is the first important support.
The trading stance that one should follow is definitely bullish. Any price pullback should be considered as a buy opportunity. However patience is needed as this move is still at its starting point and I prefer adding to my position as prices rise and break resistances or near suport levels. Always manage your risks and do not put all eggs in one basket.
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