cocoa

Technical Analysis – Cocoa futures rebound to challenge the upper bound of the descending channel

Posted on June 14, 2018 at 3:50 pm GMT

Cocoa futures for July delivery have finally reversed to the upside last Friday after printing lower highs and lower lows in the preceding six weeks to reach a three-month low of 2,245 on June 7. The downward pattern started at the end of April, however, may not change unless the market manages to crawl substantially above the descending channel. Momentum indicators in the four-hour chart though are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed above 50 and [..]

Special Report – Commodities end 2017 on strong note; set for a comeback in 2018

Posted on January 4, 2018 at 10:38 am GMT

Commodity prices had a mixed start to 2017, with the S&P Goldman Sachs Commodity Index (S&P GSCI) falling by 15% at its low point in June, driven down mainly by the decline in oil prices. However, as the OPEC-led output restrictions started to bite, crude oil prices turned higher, with a strong performance in the fourth quarter. Industrial metals also had an impressive run in 2017, particularly copper and aluminium. Going into 2018, most investors are bullish about commodities, especially [..]

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