wallst

Next wave up could break the longer-term descending resistance

SP:SPGSKC   S&P GSCI COFFEE INDEX
Remaining in the longer term downward channel , currently overbought. Expect next move down to 90.50 to 91.50. Waiting to see if next wave up can break the downtrend after this decline.
Comment: at the edge of the downtrend resistance line
Comment: this "next wave up" is exceeding the previous wave
Comment: sure enough, look at it go, tighten the stop
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