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Barchart

Rich Asplund

Technical Selling Weighs on Cocoa Prices

September ICE NY cocoa (CCU26) on Tuesday closed down -15 (-0.25%), and September ICE London cocoa #7 (CAU26) closed down -41 (-0.93%).

Cocoa prices fell from 2.5-week highs on Tuesday and settled 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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