A while back I posted a chart on Coffee
and said that the trend is still up and I'm bullish
on the longer term, but I wasn't so sure with the entry. Well, if I would have traded a futures
contract, I would get stopped out because price retested the 166$ level, and made a false breakout below it. Now, it confirmed that it was only a false breakout, and we have a class A bullish divergence
on the MACD
histogram and lines. I expect a move at least to the previous high, but looking at the weekly I believe there is room for more. Weekly here
and I believe it looks great!