Roenbaeck

Coffee Arabica on the move

ICEUSA:KC1!   Coffee
122 1 0
Still long with a stop-loss below the blue dotted line? You may as well stay long! Crossing the dotted line we move into undecisive territory. Beware, monitor, and adjust your stop-loss accordingly. Dropping below the green up-trend channel bottom and we are likely on our way to break the psychological 100 mark as well, not stopping until we reach the red down-trend channel bottom. In that case, go short and monitor daily, all longs are off the table for a while. Maintaining the position above the dotted line necessarily breaks the red channel roof before the second week in december, which would be a very good sign for those swinging their longs.
In order to continue the upward trend coffee is about to hit some long term resistance lines from old channels.
See my other chart:
Coffee is getting ready to decide which way to go, and it must do so no later than by the end of next week.
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