Cocoa Climbs: May Cocoa Gapped Higher Today!

Cocoa climbs: May Cocoa gapped higher today, as strong buying in London and a weak US Dollar gave bulls the upper hand. Trade buying was responsible for the rally in London and the momentum followed through to New York. Fund buying was noted from the start, as the market moved above the 20-day moving average, which momentum traders consider bullish. Local traders were caught short the market, helping push prices higher. Cocoa was one of the leaders in today's "softs" rally, along with Coffee and Sugar. Read More....