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U.S. Coffee Futures 2018 Risk Range $184 - $86

Published 01/01/2018, 03:22 PM
Updated 07/09/2023, 06:32 AM

Fibonacci

Break out Pivot: 150.50
Crack Down Pivot: 119.50

Trading Levels

Support and Best Buy level 130, Resistance or best short level 140.20. A break above 150.50 upside target capped at 173, up to 177 - 184 in extension. However, 119.50 breached, threatens 96 on the downside and 86 in extension.

Downside number probabilities are very slim fundamentally.

Technicals

Some of the early indicators such as Stochastic oscillators, Commodity Channel Index, Parabolic SAR are firmly pointing towards northbound journey as highlighted in the multi-year chart followed by an emerging bullish candlestick pattern.

Strategy and Our Approach: Bullish

Short-Term to Near-Term traders buy zone between 122 - 130 for near-term target 140.20 and 150.50 in short-term. Stop loss or reversal at or below 112

US Coffee prices are now at $126

Multi Year Chart, Arrows indicates direction

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