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From : Commodities Daily Hotline: 24 November 2015
Chart of the day: 'Bull trap' by Cocoa


The NYBOT Cocoa instrument has reacted from the overbought contract high plotted at 3420 on 20 November.  The correction has taken prices beneath the July, and September, highs giving rise to fears for a further 'bull trap' pullback over the short term.  A push into unchartered territory would be required to remove that danger.

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