March Cocoa Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for March ICE cocoa futures that prices are in a solid downtrend. The recent pause is not bullish. Bears are still in technical command. A move below chart support at the November low of $2,853 would become a selling opportunity. The downside price objective would be $2,650 or below. Technical resistance, for which to place a protective buy stop just above, is located at $2,950.
