Cocoa Short. At the end of January, cocoa could go two ways from the point of view of the trade zone. Up to resistance 2620 and continue on to 2750-2800. The second option was to break through support 2490 and continue to 2410 and possibly lower. The support breach occurred last week. Since then, cocoa out of six trading sessions has closed 5 of them with intraday declines, suggesting that bear traders outperform bulls in the market.