Type: Bullish RiseKey Levels:Resistance: 2671Pivot: 2570Support: 2470Preferred Case:Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price above the Ichimoku cloud, indicating a bullish market structure. If this bullish momentum continues, expect price to head back up towards the resistance at 2671, where the previous swing high is. Alternative Scenario:Price may break the pivot at 2570, where the 50% Fibonacci line is before heading towards the support level at 2470, where the 61.8% Fibonacci line is. Fundamentals:There are no major news.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/cocoa-futures-cc1-h4-potential-for-bullish-rise3"
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