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US Coffee Eyes 140 Near Term, 150 Short Term

By Abhishek M RCommoditiesDec 28, 2017 09:49AM ET
www.investing.com/analysis/coffee-eyes-at-140-in-near-term--150-short-term-200276363
US Coffee Eyes 140 Near Term, 150 Short Term
By Abhishek M R   |  Dec 28, 2017 09:49AM ET
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Opinion, Levels, Risk Range Published: Near Term (1 to 4 weeks) Short-Term (1 to 3 months)

Trading Levels, Risk Range

US Coffee Futures

Best buy & support at 120, Near Term target in focus 130 - 140.20, above 142 suggests 150.30 in motion short term. However, if prices fail to hold 116.5 coffee is vulnerable to test 108 - 106 a little above the previous 52 weeks low 102 apparently from where the prices bounced back sharply holding support. If breach 102 downside may extend to 96.20 Where its likely to make a bottom.

Technical Preview

Parabolic SAR, commodity channel index & Stochastic Oscillators have taken support are indicating upward momentum as highlighted in the chart followed by Bullish continuation candlestick pattern

Comment: Long Positions can be added between 120 - 122 levels for target 130 & 140

Alternative Scenario: Reversal Or Break Down Pivot 116.50, reversal target capped at 106. If violates. panic sell-off can push prices lower much as 96.50 in extension

US Coffee now trading at 123.70

Monthly US Coffee
Monthly US Coffee

US Coffee Eyes 140 Near Term, 150 Short Term
 

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US Coffee Eyes 140 Near Term, 150 Short Term

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destination destination
destination destination Mar 19, 2018 12:02PM ET
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Dear Abhishek, I'm pramod kumar from India karnataka sakleshpur and small coffee growers also holding coffee stock and depending on coffee for lives, Can you please suggest me till when we should wait and what figures it would reach. Thank you in advance.
 
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