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Rich Asplund

Cocoa Prices Slip as Overbought Conditions Spur Technical Selling

September ICE NY cocoa (CCU26) today is down -22 (-0.37%), and September ICE London cocoa #7 (CAU26) is down -40 (-0.93%).

Cocoa prices fell from 2.5-week highs today and turned lower on technical selling. Cocoa prices have surged more than +15% over the past three trading sessions, lifting prices into heavily overbought territory and sparking long liquidation from funds.

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