Trade Alert
Coffee is sitting at a quite important level, where it is currently getting held within a small range. We need to see a nice break through one of the sides in order to determine a near-term direction.
A move back above the 118.00 level could open the door towards recent higher levels. Good potential areas of resistance to watch are 120.20 or even 120.80.
A break below the 115.30 level, marked by the lows of April this year, could open the path towards the lowest point of March 2016 at a 113.40
This is building up to be a good potential trade.
Don't forget your stops.
Coffee is sitting at a quite important level, where it is currently getting held within a small range. We need to see a nice break through one of the sides in order to determine a near-term direction.
A move back above the 118.00 level could open the door towards recent higher levels. Good potential areas of resistance to watch are 120.20 or even 120.80.
A break below the 115.30 level, marked by the lows of April this year, could open the path towards the lowest point of March 2016 at a 113.40
This is building up to be a good potential trade.
Don't forget your stops.