COCOA is something that will be featured many times in future posts. For now I just want to make an small introduction to my first post regarding this commodity.
My long term view is extremely bullish for COCOA as long as prices stay above 2000$ per Metric Ton (MT). I target 3000$ for short to medium term. For the time being 2400$ is the first important support.
You could get an idea of what is going on in the cocoa market by checking the following links.
http://www.independent.co.uk/life-style/food-and-drink/features/chocolate-worth-its-weight-in-gold-2127874.html
http://www.scientificamerican.com/article.cfm?id=africa-grows-too-hot-to-grow-chocolate
http://www.dailymail.co.uk/news/article-1351066/Will-chocolate-drought-World-s-supply-sustainable-cocoa-run-2014.html#ixzz1CMCLQODv
The trading stance that one should follow is definitely bullish. Any price pullback should be considered as a buy opportunity. However patience is needed as this move is still at its starting point and I prefer adding to my position as prices rise and break resistances or near suport levels. Always manage your risks and do not put all eggs in one basket.
Thank you for reading this post. If you want help with trading or have a question don't hesitate to contact me.
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