{"id":173991,"date":"2020-07-23T08:05:26","date_gmt":"2020-07-23T12:05:26","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=173991"},"modified":"2020-07-23T08:00:56","modified_gmt":"2020-07-23T12:00:56","slug":"cocoa-analysis-lower-rainfall-in-ivory-coast-bullish-for-c-cocoa-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/07\/cocoa-analysis-lower-rainfall-in-ivory-coast-bullish-for-c-cocoa-2\/","title":{"rendered":"COCOA Analysis: Lower rainfall in Ivory Coast bullish for #C-COCOA"},"content":{"rendered":"
July 23, 2020<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Lower rainfall in Ivory Coast bullish for #C-COCOA<\/strong><\/p>\n

Rainfall in most of Ivory Coast\u2019s cocoa growing regions were below average last week. Rainfall in the western region Soubre totaled around 3.4 millimetres (mm) last week, 21 mm below the five-year average, which was the case also in other western and central regions. And rainfall was also below average in the eastern region of Abengourou, known for the good quality of its cocoa beans. Ivory Coast is the top cocoa producing country in the world. Lower than average rainfall is bullish for cocoa price. On the other hand Barry Callebaut, the world\u2019s biggest chocolate maker, revised its estimate of previously expected 85,000 ton deficit for global cocoa bean production for 2019\/20 to a 6,000 ton surplus. An expected global surplus of cocoa is a downside risk for cocoa price.<\/p>\n\n\n\n\n\n\n\n\n\n\n
Indicator<\/th>\nVALUE<\/th>\nSignal<\/th>\n<\/tr>\n<\/thead>\n
RSI<\/td>\n<\/td>\nNeutral<\/td>\n<\/tr>\n
MACD<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
Donchian Channel<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
MA(200)<\/td>\n<\/td>\nSell<\/td>\n<\/tr>\n
Fractals<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
Parabolic SAR<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Summary of technical analysis<\/h2>\n\n\n\n\n\n
Order<\/b><\/td>\nBuy<\/td>\n<\/tr>\n
Buy stop<\/b><\/td>\nAbove 2247<\/td>\n<\/tr>\n
Stop loss<\/b><\/td>\nBelow 2109<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Lower rainfall in Ivory Coast bullish for #C-COCOA Rainfall in most of Ivory Coast\u2019s cocoa growing regions were below average last week. Rainfall in the western region Soubre totaled around 3.4 millimetres (mm) last week, 21 mm below the five-year average, which was the case also in other western and central regions. And […]<\/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-173991","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/173991","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=173991"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/173991\/revisions"}],"predecessor-version":[{"id":174000,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/173991\/revisions\/174000"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=173991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=173991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=173991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}