Cocoa Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Cocoa market is experiencing a powerful bullish breakout, characterized by a massive, high-velocity daily candle closing at 5715.59 that reflects absolute buyer dominance. The price is currently well above an upward-sloping 20-day SMA, confirming strong short-term momentum as it aggressively moves past the key 5000.00 psychological barrier. While the immediate trajectory points toward a test of the 6000.00 resistance ceiling, the steepness of the rally leaves the price technically overextended. A healthy short-term retracement back to retest the 5000.00 support level remains a strong possibility before the market can safely sustain further upward extension.





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