Cocoa Wave Analysis 1 March, 2021

March 01, 2021 at 03:56PM

• Cocoa broke resistance level 2564.00

• Likely to reach resistance level 2658

Cocoa continues to rise strongly after breaking the resistance level 2564.00 (monthly high from January) – after it broke the daily down channel from December.

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The breakout of the resistance level 2564.00 accelerated the active impulse waves 3 and (C).

Cocoa is likely to rise further toward the next resistance level 2658 (double top from December) – followed by 2715.

From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/cocoa-wave-analysis-1-march-2021-20210301/
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March 01, 2021 at 03:56PM

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