I have not followed coffee for a while, and I think last update it looked we may see higher, but stalled and then followed by sharper fall. Not sure the connection to the current situation, and perhaps over supply may be the reasons. I am sure some of the connections can tell more.
Looking at the chart, it feel we are basing again somewhere, and we have seen...
We are still long since $ 243 and we are targeting $ 268 > 285 for now.
If position new, BUY current $ 253 and place stop-loss below $ 230 for now (financial stop). Profit order first $ 268.
We have clearly violated previous DC high $ 235 and COFFEE will attempt to test $ 252 again, and I think we may see $ 265-270 area in the near term.
BUYING into weakness is preferred, and I suggest we BUY $ 238-241 area preferred for a move to $ 270 profit target initially. Stop-loss should be placed $ 230 below for now.
The downside was maximum $ 220 and it failed to move lower.
The channel support has been working well, and now we MA-30 support $ 230. The stochastic start becoming negative, and this may push it back lower $ 228-231 range.
Startegy is BUY $ 230-234 for a move towards $ 260 for now. Stop-loss somewhere $ 218.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. The Djinn Indicators work on all charts, for any asset category and in all time frames.
Dates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. The Djinn Indicators work on all charts, for any asset category and in all time frames.
Dates in the future with the greatest probability for a price high or price low.
