• The support is identified as the 23.6pc retracement of the uptrend from $2,201 to $2,487.
  • The next support will be at $2,378, a break below which could cause a fall to $2,344.

SINGAPORE: New York July cocoa price may fall to $2,378 per tonne, as it has broken a support at $2,420.

The support is identified as the 23.6pc retracement of the uptrend from $2,201 to $2,487.

The next support will be at $2,378, a break below which could cause a fall to $2,344.

A break above $2,420, now a resistance, may lead to a gain into the $2,445-$2,467 zone.