Yo dudes and dudetts! Your monring coffee is getting cheaper this summer! Well, at least in the short term that's what it looks like.
Coffee has been moving steadily lower inside its range since the beginning of the year. There's a pretty clear trend looking at the highs from December/January. As we approach the edge of this I'll be expecting a breakout lower, at least initally, after that lets see. My downside target is 110 corresponding to the fib exetnsion, although anything below 113 and I'll consider the start of a breakout to the lower obejctive. Will this breakout form the low of the year? Or will we keep going lower?
What's your opinion, up, down, sideways? Share your charts, and comments below! Would love to hear what you think! :)
Note: All ideas expressed here are presented solely for learning and educational purposes only. Any gains or losses assumed by trading ideas presented by The Bad Panda are done so at your own risk.
Coffee has been moving steadily lower inside its range since the beginning of the year. There's a pretty clear trend looking at the highs from December/January. As we approach the edge of this I'll be expecting a breakout lower, at least initally, after that lets see. My downside target is 110 corresponding to the fib exetnsion, although anything below 113 and I'll consider the start of a breakout to the lower obejctive. Will this breakout form the low of the year? Or will we keep going lower?
What's your opinion, up, down, sideways? Share your charts, and comments below! Would love to hear what you think! :)
Note: All ideas expressed here are presented solely for learning and educational purposes only. Any gains or losses assumed by trading ideas presented by The Bad Panda are done so at your own risk.
Comment:
Tough loss on this one! Check out the reversal idea based on the reaction we saw last week! www.tradingview.com/...t-in-the-short-term/
