This morning, Holly Henschen of Barron’s has a bullish article about Cocoa. The articles notes that Cocoa tested a 30-year high last month.
If you don’t trade futures, one way to get exposure to Cocoa is through the NIB ETN. On a technical basis, there is no reason to take a position in Cocoa at this time. However, if Cocoa can breakout over the recent high at $52 it could be a good trade. For that reason, I’m adding it to my watchlist.