Cocoa bottomed?
I am getting more bullish on cocoa!
Argumentation:
1. 5 wave down into C completes an expanded flat correction.
2. Various positive divergences on daily charts (RSI, MACD, MOM, ROC)
3. Moving average crossovers. I look at George Kleinman's 2 WMA crossing 9 WMA while 30dWMA is up.
4. DaveT's MACD and Stochastics system gave a signal on 19May. Dave, do you agree?
5. Calendar spreads marginally strengthening.
6. Reverse H&S best noticeable on the hourly chart, targetting 1550?
Well, keen to hear your insight?