Monday, September 28, 2015

Bearish continuation on coffee

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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