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Re: March Cocoa/Also Pulling Back to the Breakout

Most analysts are very bearish the softs presently. I don't read many of them as I prefer to let the chart pattern with the technicals do the talking. But this test in Cocoa and Sugar are an important test back to their recent breakout pt as the 20ema is back to the 50ema and would cross for the 1st time in months. Presently both Sugar and Cocoa have the 20ema below the 50ema which is below the 200ema for months now which is a bearish downtrend. Only a successful test of the recent breakout pt with a rally would change this and see the 20ema cross above the 50ema suggesting a turn in direction from down to up again. Meanwhile the tests do have to prove themselves successful or fail.

Messages In This Thread

March Cocoa/Also Pulling Back to the Breakout Pt. *PIC*
Re: March Cocoa/Also Pulling Back to the Breakout
Re: March Cocoa/Also Pulling Back to the Breakout