May cocoa, previous update:
1. The previous update indicated today, Thursday, Feb. 20 (+/-1 day) as the next important daily market bottom for May Cocoa.
2. Today’s May Cocoa session advanced powerfully, indicating that the Feb. 20 bottom occurred one trading day early, yesterday Wed., Feb. 19. No new entry occurred due to this. Will message any new entry as the market confirms.
1. The next important daily market top for May cocoa is today, Friday Feb. 21 (+/-1 day). It is likely the actual top occurred in today’s session.
2. Continued daily closes below $29.75 in May cocoa (expected) indicate a tradable decline and test/attempt at $29.18, then at/near $28.70 into Tuesday, Feb. 25 (+/-1 day).
3. Will message any new entry based upon the above as the market continues to confirm.