Abstract:
By using a multi timeframe analysis a projection of cocoa prices listed on MetaTrader 5 platform is applied and analysed two simple technical indicators, namely, Exponential Moving Average (EMA) and Bollinger Bands (BB). Based on the remaining days left for year 2024 to complete it is anticipated that cocoa prices are still on an uptrend for the coming months of 2025. Given that prices are moving not in a linear fashion we can expected retracement on higher time frames (at least Daily) with robust noises on lower time frames. All major and minor timeframes mutually supported each other signalling a strong bullish biasedness.
