Type: Bearish ReversalKey Levels:Resistance: 2673Pivot: 2651Support: 2605Preferred Case:We see the potential for bearish reversal from our Pivot level at 2651 in line 78.6% Fibonacci retracement and 78.6% Fibonacci projection towards our 1st Support at 2605 in line with 23.6% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where it is at resistance level.Alternative Scenario:If price continues to go up, it can potentially move towards our 1st Resistance level at 2673 which is in line with 100% Fibonacci projection.Fundamentals:No Major News.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/cocoa-futures-cck2022-h4-bearish-reversal"
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