Why are chart trends for cocoa futures still down

Both cocoa markets closed a little higher in consolidation trading on Friday but were still lower for the week. Chart trends are still down on the daily and weekly charts. New York is near recent contract lows. The main crop harvest is active...

Why are chart trends for cocoa futures still down
Both cocoa markets closed a little higher in consolidation trading on Friday but were still lower for the week. Chart trends are still down on the daily and weekly charts. New York is near recent contract lows. The main crop harvest is active in Nigeria and is spreading to Ivory Coast and Ghana. Demand should improve as the Covid vaccinations get administered.