{"id":107829,"date":"2017-06-22T06:45:30","date_gmt":"2017-06-22T10:45:30","guid":{"rendered":"http:\/\/countingpips.com\/?p=107829"},"modified":"2017-06-22T06:31:20","modified_gmt":"2017-06-22T10:31:20","slug":"cocoa-technical-analysis-improved-cote-divoire-crop-forecast-bearish-for-cocoa-prices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/cocoa-technical-analysis-improved-cote-divoire-crop-forecast-bearish-for-cocoa-prices\/","title":{"rendered":"COCOA: Technical Analysis &#8211; Improved Cote d&#8217;Ivoire crop forecast bearish for cocoa prices"},"content":{"rendered":"<div id=\"inves-84254401\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 22, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p>\n<p><strong>Improved Cote d&#8217;Ivoire crop forecast bearish for cocoa prices<\/strong><\/p>\n<p>Cote d&#8217;Ivoire cocoa harvest is expected to rebound without El Nino re-emergence. Will <a href=\"https:\/\/www.ifcmarkets.com\/en\/trading-conditions\/commodities\/cocoa\"> cocoa prices<\/a> continue falling?<\/p>\n<p>The Australia Bureau of Meteorology joined the US National Weather Service predicting little chance of El Nino developing during the second half of 2017. Earlier this month the US lowered the likelihood of El Nino emerging between October and December to 36% from 46% previously predicted. With no drought developing as El Nino re-emergence fails to materialize, Cote d\u2019Ivoire crop will rebound after weaker 2015\/2016 harvests negatively affected by 2016 El Nino. Cote d\u2019Ivoire accounts for 41% of global cocoa production. Higher global supply is bearish for cocoa price.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/Cocoa_22June2017.png\" alt=\"COCOA\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily timeframe the <b>COCOA: D1 <\/b> has been falling after hitting year to day high in late March and has fallen below the 50-day moving average MA(50).<\/p>\n<ul class=\"emailSummary\">\n<li>The <b>Parabolic indicator<\/b> gives a sell signal.<\/li>\n<li>The <b>Donchian channel <\/b> is tilting lower, signaling start of downtrend.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\">MACD indicator <\/a> gives a bearish signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\"> Stochastic oscillator <\/a> is in the oversold zone, which is a bullish signal.<\/li>\n<\/ul>\n<p>We expect the bearish momentum will continue after the price breaches below the lower Donchian bound at 1901.00. This level can be used as an entry point for a pending order to sell. The stop loss can be placed above the the fractal high at 2107.00. After placing the pending order, the stop loss is to be moved to the next fractal high, following Parabolic signals. By doing so, we are changing the probable profit\/loss ratio to the breakeven point. If the price meets the stop loss level (2107.00) without reaching the order (1901.00), we recommend canceling the position: the market sustains internal changes which were not taken into account.<\/p><div id=\"inves-2555467403\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Technical Analysis Summary<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Sell<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Sell stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 1901.00<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 2107.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Improved Cote d&#8217;Ivoire crop forecast bearish for cocoa prices Cote d&#8217;Ivoire cocoa harvest is expected to rebound without El Nino re-emergence. Will cocoa prices continue falling? The Australia Bureau of Meteorology joined the US National Weather Service predicting little chance of El Nino developing during the second half of 2017. Earlier this month [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-107829","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=107829"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107829\/revisions"}],"predecessor-version":[{"id":107841,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107829\/revisions\/107841"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=107829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=107829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=107829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}