Both New York and London Cocoa futures have made top extensions in the last few days, London yesterday:
This is the latest commodity market to show that it is time for a change of direction into a downswing, so sell now. This is part of our general view that a change of weather is happening across a range of asset classes, as exemplified by yesterday’s sharp drop in stocks. We slightly prefer to sell New York.
All signals courtesy of software supplied by our friends at Parallax Financial Research www.pfr.com
