Cocoa Commodity Price Corrective Retracement In Uptrend
Commodities / Cocoa Jan 21, 2014 - 02:45 PM GMTOn the cocoa-futures chart we see a nice uptrend since July. As such, we definitely want to stay with a trend, meaning that we will be anticipating even higher levels in this market. But first we need to identify the end of a corrective retracement that now appears to be in progress. We are talking about red wave 4 that may reach the 2.560/80 area before the uptrend resumes.
Cocoa 4h Elliott Wave Analysis
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