FTN Cocoa has more than doubled its price in 3 weeks.
The questions are
1. Is this sustainable
2. What is the catalyst for this accelerated rise
However, my thought is clear on the chart. A fall below those levels may push it lower. But if the momentum continues, we may see a continuous positive run.
Tradew ith care
The questions are
1. Is this sustainable
2. What is the catalyst for this accelerated rise
However, my thought is clear on the chart. A fall below those levels may push it lower. But if the momentum continues, we may see a continuous positive run.
Tradew ith care
Note
N5.2 is the next support level.The push-up was too vertical. Hence, the market needs to take a breath.
Note
It pulled back to 5.5, which was a few kobo from N5.2 nairaNote
N6.65 horizontal TL and ascending TL are acting as a strong confluence support level.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.