Following an explosive surge that propelled Cocoa (
CC
) to the $1000 mark, the price is now encountering resistance around this significant psychological level. Observing this resistance, there's anticipation for a correction towards the area of interest defined by my TP zone.
While a revisit to the $1000 level in the coming days is plausible, it's probable that we'll witness a corrective phase following this impressive bull run. The market sentiment suggests a potential pullback as the price encounters resistance and investors book profits.
In summary, while the short-term outlook may involve another touch of the $1000 level, caution is warranted as a correction seems increasingly likely in the aftermath of this remarkable uptrend in Cocoa (
CC
).
Great Trade !
CC
) to the $1000 mark, the price is now encountering resistance around this significant psychological level. Observing this resistance, there's anticipation for a correction towards the area of interest defined by my TP zone. While a revisit to the $1000 level in the coming days is plausible, it's probable that we'll witness a corrective phase following this impressive bull run. The market sentiment suggests a potential pullback as the price encounters resistance and investors book profits.
In summary, while the short-term outlook may involve another touch of the $1000 level, caution is warranted as a correction seems increasingly likely in the aftermath of this remarkable uptrend in Cocoa (
CC
). Great Trade !
