Type: Bearish ContinuationKey Levels:Resistance:2454Pivot:2597Support:2355Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to head towards the support at 2355, where the previous swing low is located.Alternative Scenario:Price may go back up and retest the resistance at 2454 where the 78.6% Fibonacci line is located. Fundamentals:There are no major news.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/cocoa-futures-cck2022-h4-potential-for-bearish-continuation"
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