Reuters analyst sees NY cocoa futures falling toward $5,465 a ton
Reuters technical analysis: the December New York cocoa contract may drop to $5,465 a ton after breaking support at $5,633.
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what happened
Reuters analyst Wang Tao, who writes on technical scenarios for commodities and energy, believes the December New York cocoa futures contract may fall to $5,465 per metric ton. His reasoning rests on a break below support at $5,633.
In his view, a wave c that started at $5,905 has dropped under the 61.8% projection at $5,633, and a further move to the 100% level at $5,465 looks highly likely. A channel technique points to an even lower target of $5,194.
Resistance sits at $5,633. A move back above that level could open a rally into the $5,685-$5,737 range. The analyst notes that these are his own views.
why it matters
For cocoa markets this is a technical signal rather than a fundamental news event, since the call relies on price charts rather than supply and demand data. Market participants should note that such views are not investment advice.
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sources
- NY cocoa may fall to $5,465 — Reuters, 23 October 2026 at 07:57 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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