Playing COCOA /CJ to the long side for the next couple of months
Cocoa is building a base since March of this year. Eventually it looks like it wants to get it on and move to higher levels.
The price projection symmetry on the monthly provided good enough support and we see signs that this base is finally over and the next leg higher has already started.
Based solely on technicals , COCOA has a minimum 100-200 upside from here which these levels would be 2250-2350 .
That would be close to a 0.382 retracement from a weekly perspective .
I am long at 2136 as of today .
The price projection symmetry on the monthly provided good enough support and we see signs that this base is finally over and the next leg higher has already started.
Based solely on technicals , COCOA has a minimum 100-200 upside from here which these levels would be 2250-2350 .
That would be close to a 0.382 retracement from a weekly perspective .
I am long at 2136 as of today .