Sure coffee will drop massively if unable to break 215Sure coffee will drop massively if unable to break 215 this time
KTU2024 trade ideas
COFFEE - Wide Awake Hi all,
I am here again to give you something valuable:)
Observed the coffee future chart which is trading in the multi year resistance zone. This is the fourth time now that it is into that zone and owing to increase in the prices of other commodities it may break the resistance this time.
Stocks of FMCG segment will benefit from it. One stock which I see benefitting from it is TATA COFFEE. I will post the chart of it soon, till then do your own due diligence.
Happy Learning!
BEARISH ON US COFFEEBearish 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
