Cocoa has been decreasing strongly, with sellers driving the market lower in a clear bearish run. However, price has now reached a strong support zone, an area where buyers previously stepped in with conviction. This zone will be critical to watch: if sellers lose momentum here and buyers defend the level, it could trigger a bullish reaction and the start of a corrective leg upward.
If rejection confirms, that becomes your signal anticipating buyers to take control and push price back toward higher levels. I would anticipate price can climb around 9000.
If rejection confirms, that becomes your signal anticipating buyers to take control and push price back toward higher levels. I would anticipate price can climb around 9000.
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Price could reach 6,000 before climbing back up.
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