Just saying ... Cocoa had a bearish close on the weekly. 3455 could be an interesting resistance Let's see if we can stay below it.
%% MAIN TREND is still up from 1973-74, so seller beware LOL. Assume my charts are right.[Different market but same principle, C is not near the uptrend some think\they reverse split it 10 times, so $42.42 on citigroup=$4.24, really.] [BUT i do some counter trend$ on SPY, short SPY = SH,SPXS....................] Interesting, long term, i thought i would make more with SQQQ, PSQ[like a short, but inverse QQQ]. Actually a countertrend[SQQQ] like that \i averaged MORE LOSS , strangely . NO wonder , when the main QQQ uptrend kicks up anytime, those qqq longhorns trample the bears[My SQQQ trades LOL] Helpful principle, not sayin any of these are connected with cocoa uptrend. barchart.com has cocoa, today/ mostly long term buy/ medium term buy; short term sell
it looks like a buy the dip over here for me. but that is base on my strategy. i would enter here going long and place a stop loss around 3222. profit target around 3570 or if it goes higher...put a trailing stop loss.
btw....if u want to short something....look at gold futes. it looks like right now it is breaking support level to the down side.