Coffee Arabic looking fragile?
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Coffee Arabica: Expected price volatility around bad weather conditions are currently balancing the potential massive crop coming out of Brazil for next year. A head and shoulders pattern has formed and would have a possible longer term target price of 89. Price may find short term resistance at 126 then 118. Upside support may be found at 136 then 143.
Comments
Agree, could see some downward movement, especially when this has formed a Head and Shoulders pattern and closed below the neckline.