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NIB - Cocoa Futures Roll To December- Another Correction Is Likely To Lead To A Higher Low
iPath Bloomberg Cocoa Subindex Total Return SM IndexETN
Cocoa futures on the Intercontinental Exchange rolled from September to December futures. During roll periods, prices can become highly volatile as market participants transfer risk from one active month contract to the next or choose to exit or enter positions. During the September-December roll, the cocoa futures market has corrected from the August 10 high at $2559 per ton, the highest price since mid-March. On that day, cocoa put in a bearish reversal on the daily chart as the price rose to a new five-month high and closed below the previous session’s low. Since then,