Cocoa futures exploded higher in Tuesday's trading session to gain nearly $130 per metric ton for the day. This surge triggered a technical breakout from the Triangle chart pattern shown here on Autochartist's 240-minute time interval. Given the extraordinary momentum of the move so far, it is likely we will see a continuation of the move towards the forecast target price in Wednesday's session.

Cocoa had been trading in a mostly sideways range for the last several weeks, bouncing between the support and resistance levels created by the Triangle chart pattern. The clear violation of the resistance trend line as the surge occurred found immediate and sustained buying action to carry the market much higher by the close.

The minimum projected price to complete this breakout suggests another $50 per ton of upside potential to reach $2,466 per ton. Momentum buying will often carry a move above the minimum target, however, suggesting a follow-through towards the upper end of the range near $2,540 per ton is quite possible.

Any sell-off from the present level should find solid footing at the top of the Triangle, as old resistance becomes new support. The impressive strength of the rally now underway is encouraging for a longer term bull market trend towards $3,000 per ton to ensue upon a successful achievement of the nearby price target. For further information on this and other Autochartist products, visit our website at

www.autochartist.com

DISCLAIMER: The Autochartist service includes chart pattern identification in respect of foreign currencies, commodities, equities and stocks. There are potential risks relating to investing and trading. You must be aware of such risks and familiarize yourself in regard to such risks and to seek independent advice relating thereto. You should not trade with money that you cannot afford to lose .The Autochartist service and its content should not be construed as a solicitation to invest and/or trade. You should seek independent advice in this regard. Past performance is not indicative of future performance. No representation is being made that any results discussed within the service and its related media content will be achieved. All opinions, news, research, analyses, prices or other information is provided as general market commentary and not as investment advice. Autochartist, MDIO Software, their members, shareholders, employees, agents, representatives and resellers do not warrant the completeness, accuracy or timeliness of the information supplied, and they shall not be liable for any loss or damages, consequential or otherwise, which may arise from the use or reliance of the Autochartist service and its content. This e-mail may contain information that is confidential. If you are not the intended recipient, you must not distribute, copy, circulate or in any other way use or rely on the information contained within the entirety of this email. Please delete the e-mail and any attachments and notify us immediately.