COCOA: oversold futures with 37% decline in price for a year.
RSI crossed above 0,3 giving a signal for probable upward movement.
Engulfing bullish bar after a sharp short term decline with potential for increase in price.
Risky position for probable reversal of the trend so we can divide our position into parts to build it.
SL: 2113
Alternative scenario: If price breaks below 2113 this will give a sell signal which is not a place to enter since it will be too risky.
Stefan D. Angelov - Head of Stocks Trading
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