Cocoa Futures Prediction Septembe 8 2015 : US commodity exchanges closed last night to coincide with Labour Day (7/9). Throughout the third quarter of 2015. The price of cocoa in general are in a stronger trend pretty solid.
Since the beginning of June to mid July 2015 cocoa futures price has increased very solid. The rally was delivered price of cocoa to reach the highest position in more than nine months later. Cocoa price performance backed by the prospect of decline in crop production due to disruptions in producing countries of Africa.
Cocoa prices began to experience a retreat after touching the highest level of 9 months. Currently the price of cocoa is far from the highest figure achieved this year at the level of 3,375 dollars per ton.Compared with the end of the second quarter to the current price of cocoa has increased by 3.32 percent. When compared with the 9-month highs reached on July 15 and until today the price has decreased by 6.13 percent.
Coffeefuturesprices.blogspot estimates that the price of cocoa futures for the next trade will again experience an increasing movement. Currently the price of cocoa for the short term has been in bullish condition. For the medium term bearish trend observed but for the long term is still bullish.
For the next trading price of cocoa futures on ICE Futures US in New York has the potential to test the resistance level at 3,200 dollar positions. If the resistance level is successfully penetrated the next level is 3,230 dollars. While the level of support that will be tested if there is no correction at 3,130 dollars and 3,095 dollars.
Since the beginning of June to mid July 2015 cocoa futures price has increased very solid. The rally was delivered price of cocoa to reach the highest position in more than nine months later. Cocoa price performance backed by the prospect of decline in crop production due to disruptions in producing countries of Africa.
Cocoa prices began to experience a retreat after touching the highest level of 9 months. Currently the price of cocoa is far from the highest figure achieved this year at the level of 3,375 dollars per ton.Compared with the end of the second quarter to the current price of cocoa has increased by 3.32 percent. When compared with the 9-month highs reached on July 15 and until today the price has decreased by 6.13 percent.
Coffeefuturesprices.blogspot estimates that the price of cocoa futures for the next trade will again experience an increasing movement. Currently the price of cocoa for the short term has been in bullish condition. For the medium term bearish trend observed but for the long term is still bullish.
For the next trading price of cocoa futures on ICE Futures US in New York has the potential to test the resistance level at 3,200 dollar positions. If the resistance level is successfully penetrated the next level is 3,230 dollars. While the level of support that will be tested if there is no correction at 3,130 dollars and 3,095 dollars.
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