BEARISH ON US COFFEE
Bearish clues:
- Coffee price have bounced off bearish channel resistance
- The hourly uptrend line has been broke
- Candlestick shows indecision at the top and the strength of the sellers
Objective:
Coffee could decrease to the 148.000 US level, which corresponds to a strong support zone, and then maybe to the 145.000 US level, which corresponds to the bearish oblique support of the bearish channel.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- Coffee price have bounced off bearish channel resistance
- The hourly uptrend line has been broke
- Candlestick shows indecision at the top and the strength of the sellers
Objective:
Coffee could decrease to the 148.000 US level, which corresponds to a strong support zone, and then maybe to the 145.000 US level, which corresponds to the bearish oblique support of the bearish channel.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.