TECHNICALS-NY cocoa may retrace toward $3,835-$4,001 range

ReutersMay 6, 2026 7:31 AM

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SINGAPORE, May 6 (Reuters) - New York July cocoa CCN6 may retrace toward a range of $3,835-$4,001 a metric ton, as its rally seems to be ending in the resistance zone of $4,075-$4,167.

The rally looks too linear to sustain, especially after a bearish divergence appeared on the hourly RSI, which signals market weakness.

A break above $4,167 may lead to a gain into the $4,230-$4,315 range.

The cocoa report is published every Wednesday and Friday.

Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.

*No information in this analysis should be considered as being business, financial, or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

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