Cocoa futures are pulling string gains on this latest uptrend, gaining nearly $200 per ton from the recent swing lows. Tuesday's price action stood out as the session formed one long green 4-hour candle to signify steady buying at higher prices throughout the day. Autochartist shows a key resistance level forming at the $2,375 per ton level which will likely be the next pivot point in this move higher .

A successful move above the key resistance tend line to complete the current rally would suggest a possible pivot higher towards this $2,500 level once again. A price reversal at or below the $2,375 key level would confirm a failed approach and revert the trading back towards the prior swing lows

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