COFFEE FUTURES - Wake up and smell the coffee

COFFEE holded the support area of ~109.20-109.50 and made a pullback breaking the trendline (marked green on chart).

However the bulls seem to be sleepy so I believe the trend continues to be bearish and we have to monitor how price will react to make our decision.

Personally I'm considering a short position around the area marked on the chart.

Potential profit to blue line which is the next support area .

So as mentioned on the chart we monitor price and have our finger on the trigger.

Good luck traders.

Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become better at trading commodities .


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