Hello,Traders!
COFFEE is going down to retest
The local rising support line
From where the price
Is likely to make a small rebound
Buy!
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Hello,Traders!
COFFEE is trading in a local uptrend
And the beans are coming down
To retest the rising support
From where I will be expecting
A local rebound and a move up
Buy!
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Hello,Traders!
COFFEE broke a local rising support
Then went down and is now back up
To retest the broken line which became a resistance
And I am expecting a local pullback
Towards the target below
Sell!
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See other ideas below too!
Hello friends,
Coffee has reached a resistance point after a long rally on the hourly timeframe.
Short, with stop loss set @ 2.30
Take profit -2% or more from current price.
Take care
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With global inflation setting new records high, coffee prices can be set to trend higher
in the upcoming months.
From a wave perspective 5 waves were done to the upside finished with a bearish divergence showcasing
a correction to the downside were it's end can be expected near wave 4 to then start a new rally to the upside.
