After a rebound from 2 trend lines layer, the price went back to test the downtrend line. The present symmetrical triangle should be the signal for the continuation. A breakout over the 50% would confirm target (51.37 - last support level).
Comments
ivygrowing
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Agreed.
timwest
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Nice going! Will you take the short now or was it a long-only trade?
Razvan
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I would wait to hit the resistance(51.37) there were some nice volumes, so i espect the price to retest....there i would wait for a short signal. The thing is that the coffee price is still going down and no signs yet from sbux regarding a lower demand...and the most interesting thing is that the demand for arabica fell while the for robusta grew this might mean even lower costs for SBUX...So a short would be to soon now...from my point of view