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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Friday, 15 April 2011

Cocoa

I was asked for a cocoa chart and I have to say I dont have a clear view.Last year I thought we had a nice top pattern but the market broke out.Obviously political unrest in Ivory Coast has added to volatility.It looks like we are in a large bearish rising wedge pattern and that the next short-term leg should be up.Also the recent sharp decline came on a 120 week/1800 point  cycle so watch the divisions of the Gann square below for support/resistance



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