March ICE Cocoa Futures a Selling Opportunity on Fresh Price Weakness
See on the daily bar chart for March cocoa futures that prices are still in a downtrend and have seen a corrective bounce recently. The bears are in still in technical control. A move in prices below chart support at $2,825 would give the bears fresh downside momentum and it would also become a selling opportunity. The downside price objective would be $2,550 or below. Technical resistance, for which to place a protective buy stop just above, is located at $2,927.
