Cacao Prices Still Under Dollar Pressure

The price of cacao ICE Futures Futures declined at the end of the session on Saturday early morning (19/12). The price of cacao futures on the ICE Futures New York experience closing in negative territory. Sentiment of the strengthening of the U.S. dollar currency pressing the price of cacao. Strengthening the dollar pushed immediately put US interest rates by The Fed

At the close of trading on Saturday nightfall, GBPUSD fell 0.05 % on 1.4890, describes the dollar gains against the pound. The dollar was down tarhadap euro and yen, but sentiment of strengthening the dollar continues.

At the end of the day early Friday trading price of cacao futures contract March 2016 which is the most active contract closed with the monitored posted its limited. The commodity prices closed down thin of 1 dollars or 0.03 percent on the position of 3.252 dollars a ton.

We predicted that the price of cacao futures for the next trade will decline with the strengthening of the US dollar after a rise in US interest rates. The price of cacao with the potential to continue the decline on the Support on the first 3.200 and support both at 3.150. But if prices rebound, will test the level resistance on the position of the 3,300 dollar. If the level resistance succeed be penetrated to the next level is 3,350 dollar