Cocoa has been in major downtrend since Mar2011.

The trading range for the entire year of 2012 was 2003 to 2744.

So far for 2013 price has been stuck trading from 2046 beginning Mar to 2443 beginning of May.

Since May in the Sept contract price has been stepping down from 2443 to 2198 then from 2384 to 2129.

Two weeks ago price broke out of the step down trend and rose attempting to breakthrough resistance at 2384 (unsuccessful after seven trading sessions).
Now it looks like price is dropping after being in the upper portion of the range bound.

And I guess the question is will price find and hold support in the region/zone width of 2262 – 2250 and if not will it find and hold support at 2209 – 2200 and if not will it find and hold support at 2165 – 2150 and then 2129??

Anywhere along IF YES price does and bounces then will it finally be successful at breaking resistance at 2384 and then at 2443 and then at 2464 – 74 and then at 2548 – 60.

Don’t know if this is what you had in mind by asking or not.

KJB22