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Cocoa is getting ready to make a move

Cocoa is getting ready to make a move

Cocoa ICEUSA:CC2!

I have been neutral on CC for the past few weeks, but something is brewing. I favor a break towards the upside for following reasons IMHO:

1. Support area; failed to break to downside;
2. Broke out of downtrend.
3. Future spreads went back in backwardation
4. Buy signals on RSI and Stochastik
5. Bollinger Bands are very tight