March Cocoa/Breaking Out *PIC*

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March Cocoa broke out over its 5 month downtrendline and recent high point. Seasonal trend charts show Jan through to mid March to be the strongest period of the year for Cocoa. Price over the last 5 months have been in a constant downtrend with nothing able to reverse the selloff. This recent Flag pattern complete with a Flag Pole is the 1st bullish sign of a reversal in this selloff. Price needs to hold above this breakout point to suggest a reversal.

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March Cocoa/Breaking Out *PIC*

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