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Technical Analysis #C-COCOA : 2016-02-03

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Weather takes a heavy toll on prices Cocoa prices have slightly rebounded from the year low. Market participants worry the extremely hot and dry weather in the African Cote d'Ivoire may strongly affect the crops and reduce exports by 200 thousand tonnes. The shaping of the strongest over the last years Harmattan trade wind in Western Africa has been tracked. Will cocoa prices continue edging up? Cote d'Ivoire accounts for around 35% of global cocoa production and ranks 1st by this measure.

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