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NY cocoa may slide into $4,315-$4,419 range

By Reuters News

SINGAPORE, Nov 11 (Reuters) - New York December cocoa may slide further into a range of $4,315-$4,419 per metric ton, driven by a wave c.

A projection analysis reveals a brief extension of this wave below its 276.4% projection level of $4,691. It is highly likely to travel into the range formed by the 261.8% and the 238.2% levels.

Immediate resistance is at $4,755, a break above which may trigger a weak bounce limited to $4,807-$4,859 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. His analyses are exclusively published on Workspace - a platform provided by London Stock Exchange.

*** 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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