SINGAPORE: New York cocoa faces a resistance at $2,359 a tonne, a break above which could lead to a gain into $2,398-$2,483 range.

The break will not only trigger a further rise, but also confirm a price range from $2,359 to $2,783, defined by the upper channel.

NY cocoa neutral in $2,331-$2,387 range

Support is at $2,312, a break below which may be followed by a drop into $2,236-$2,283 range.