July ICE cocoa futures a buying opportunity on more price strength.

See on the daily bar chart for July cocoa futures that prices have recently hit a contract high and are in an uptrend. Bulls are in command. A move above chart resistance at the recent contract high of $3,047 would become a buying opportunity. The upside price objective would be $3,200 or above. Technical support, for which to place a protective sell stop just below, is located at this week’s low of $2,970.

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