Coffee has
stayed in a bearish trend with a recent low around the 114.55 level as we can
see on the daily chart. Even though the price tried to break above the
Parabolic SAR points, it actually came back down and it could try to visit the
114.55. To the upside, the commodity seems to have found a good resistance
around the 125.70 level and a breakout above that zone could take the price all
the way to its most recent high around the 140.87 level in the medium term.
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The downtrend looks intact.
ReplyDeleteI fully agree with your view.
ReplyDeleteIt's still testing the resistance.
ReplyDeleteGood analysis, will keep it in mind!
ReplyDeleteTotally agree with this analysis, thank you.
ReplyDeleteThank you, informative!
ReplyDeleteGreat analysis! I'll be very careful with this asset.
ReplyDeleteExcellent analysis. I will keep that in mind.
ReplyDelete