Cocoa Weekly Forecast

This/Next Week Forecast (March 8 – 12, 2021)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 2572, which will be followed by moving up to resistance level 2655 – 2700.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 2572, which will be followed by reaching support level 2515 and if it keeps on moving down below that level, we may expect the market to reach support level 2410 – 2368.

Chart Cocoa Forecast 2020, Long-term Technical Analysis and Outlook

previous week forecast

Fundamental Analysis

Difference between supply and demand shows fair price at the level 2800.

Chart Cocoa Stocks, Inventory

Monthly Forecast, March 2021

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 2410, which will be followed by reaching resistance level 2700 – 2800 and if it keeps on moving up above that level, we may expect the market to reach resistance level 3100.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 2410, which will be followed by moving down to support level 2160.

Chart Cocoa Forecast 2020, Long-term Technical Analysis and Outlook

previous month forecast