Hi, as you can see Coffee is in the well known Coffee Cup Pattern.
It recently broke above a local resistance and propably is up for a retest now (picture below) before it goes to my midterm target of 270-340.
I may be Biased at my Trading idea, but in my opinion Coffee is pretty cheap and i would personally would buy coffee too if it was double the current Prices.
Alright made a Joke here in there but the Trading Idea is a legit one :D
Have a nice Day =)
It recently broke above a local resistance and propably is up for a retest now (picture below) before it goes to my midterm target of 270-340.
I may be Biased at my Trading idea, but in my opinion Coffee is pretty cheap and i would personally would buy coffee too if it was double the current Prices.
Alright made a Joke here in there but the Trading Idea is a legit one :D
Have a nice Day =)
Nota
Local Resistance of past 1,5 Years should turn into Support. Thats where i suggest to open Longs. DYOR
Nota
the 270-340 usd (50year old) resistance got already 5 times tested and should be rather weak now. Coffee pulling the "Lumber" soon?!Nota
i have to admit that the huge candle wick on monthly doesnt look very bullish shortterm - i propably wouldnt be buying right now and wait for further correction. or atleast only buy small amount at current prices...atleast historically such wicks have a high propability of further correction
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.