{"id":14480,"date":"2012-06-08T12:21:17","date_gmt":"2012-06-08T16:21:17","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=14480"},"modified":"2012-06-08T12:21:56","modified_gmt":"2012-06-08T16:21:56","slug":"cocoa-and-the-pound","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2012\/06\/cocoa-and-the-pound\/","title":{"rendered":"Cocoa and the Pound"},"content":{"rendered":"

\"\"By: Peter Mooses<\/a> of RJO Futures<\/p>\n

With possible signs of tightening in supplies out of West Africa we\u2019ve seen cocoa rebound this week. July cocoa gave back some of its gains today though as we saw the British Pound take off. The Pound was up as we waited for news from the ECB. When news broke that the ECB left interest rates unchanged today for the sixth straight month the markets were given a lift. After May\u2019s sell off in the Pound there is plenty of upside potential to get back up to April\u2019s levels.<\/p>\n

Technically on the July \u201912 cocoa chart you can see yesterday\u2019s close above the 9-day moving average which continues to signal a positive trend. Support is at 2101 and 2039 and resistance is at 2197 and 2231 in ICCN12. If we can break these resistance levels look for the bullish trend in the short-term to continue.<\/p>\n

July \u201912 Cocoa (ICCN12)-Daily Chart<\/p>\n

\"\"<\/a>
\nRJO Vantage<\/a><\/div>\n

June \u201912 Pound (6BM12)-Daily Chart<\/p>\n

\"\"<\/a>
\nRJO Vantage<\/a><\/div>\n
<\/div>\n
Peter Mosses<\/div>\n
866-397-8195
\n312-373-5361
\nContact Peter Mooses<\/a><\/div>\n
<\/div>\n
Disclaimer: Trading in futures and options involves a substantial degree of a risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results.<\/div>\n","protected":false},"excerpt":{"rendered":"

By: Peter Mooses of RJO Futures With possible signs of tightening in supplies out of West Africa we\u2019ve seen cocoa rebound this week. July cocoa gave back some of its gains today though as we saw the British Pound take off. The Pound was up as we waited for news from the ECB. When news […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2086,104,4396,4086,4394,4395],"class_list":["post-14480","post","type-post","status-publish","format-standard","hentry","category-general","tag-cocoa","tag-futures","tag-peter-mooses","tag-pound","tag-rjo-futures","tag-rjofutures-com"],"yoast_head":"\nCocoa and the Pound - INO.com Trader's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2012\/06\/cocoa-and-the-pound\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cocoa and the Pound - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"By: Peter Mooses of RJO Futures With possible signs of tightening in supplies out of West Africa we\u2019ve seen cocoa rebound this week. 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