At the close of early morning currency trading, the dollar index was in a positive position, up 0.25% at 96.93. The strengthening of the US dollar has made commodities like cocoa, which are sold in US dollars, more expensive, so demand has declined. At the end of Wednesday's early morning trading, the May 2016 cocoa futures contract, which is the most active contract, closed lower. The commodity price closed - 40 dollars or -1.39 percent lower at $ 2,834 per ton. Bullish cocoa sentiment still looms, with hot and dry weather in most major cocoa regions, the Ivory Coast, having damaged trees and could reduce seed quality and mid-crop size, farmers said Monday. Vibiz Research Center analyst predicts that cocoa futures prices for the next trade will strengthen in the short term, with production constraints in cocoa producing countries. For the next trading, cocoa futures prices on ICE Futures New York have the potential to test the resistance level at $ 2,880. If the resistance level is successfully penetrated, the next level is $ 2,930. Support levels to be tested in the event of a weakening are at $ 2,780 and $ 2,730.
Freddy / VMN / VBN / Analyst-Vibiz Research CenterEditor: Asido Situmoranghttp://vibiznews.com/2016/02/17/harga-kakao-ice-turun-tertekan-penguatan-dollar-as/
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