Lower cocoa demand estimates bearish for #C-COCOA
기술적 분석 요약 코코아: 판매
| 인디케이터 | 값 | 신호 |
| RSI | 중립적 | |
| MACD | 판매 | |
| Donchian Channel | 판매 | |
| MA(100) | 구매 | |
| Fractals | 판매 | |
| Parabolic SAR | 판매 |
차트 분석
On the daily timeframe #C-COCOA: D1 is testing the 100-day moving average MA(100) which is rising still. We believe the bearish momentum will continue after the price breaches below the lower Donchian boundary at 2485. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 2705. After placing the pending order the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (2705) without reaching the order (24785) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
- 기본 분석
The International Cocoa Organization downgraded its forecast for global cocoa grindings. Will the cocoa price slide continue?
Coronavirus outbreak negatively impacts chocolate consumption. Global chocolate consumption has been negatively affected by lockdowns which are being reintroduced in many countries this holiday season. The International Cocoa Organization (ICCO) cut its forecast for global grindings in the 2019/20 season by 153,000 tons or by 3.2% over year in its latest quarterly update on December 2. Grindings are an indicator of cocoa demand. ICCO upgraded its estimate of end of season stocks by 1.1% at the same time. It points to increased supply. Estimates of lower demand are bearish for cocoa.