Cocoa, anyone trading? | Forex Factory

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Cocoa, anyone trading?

  • #1
  • First Post: Nov 5, 2010 6:33pm Nov 5, 2010 6:33pm
I like the daily close on Cocoa, but haven't really traded it before. I know about the elections in the Ivory Coast, and I know London Cocoa trades at a $200 premium to ICE Cocoa. Cocoa hasn't rallied like other commodities, to me this makes it seem like a gem - however - I also have read that London Grind data has shown a decline in demand for cocoa, so who knows. It closed today on support, after having gapped down and almost breaking the 2700 barrier. Lot of buying at the end of the day. Could be the end of the decline.

Any thoughts on Cocoa?
  • #2
  • Last Post: Nov 5, 2010 8:30pm Nov 5, 2010 8:30pm
Quoting SugarTrade
I like the daily close on Cocoa, but haven't really traded it before. I know about the elections in the Ivory Coast, and I know London Cocoa trades at a $200 premium to ICE Cocoa. Cocoa hasn't rallied like other commodities, to me this makes it seem like a gem - however - I also have read that London Grind data has shown a decline in demand for cocoa, so who knows. It closed today on support, after having gapped down and almost breaking the 2700 barrier. Lot of buying at the end of the day. Could be the end of the decline.

Any thoughts on Cocoa?...
demand for cocoa will not drop in the long term...buy with a 10 yr TP
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