Coffee Short
Updated
Fell through a rising wedge. Back to previous support; ~$96.00.
Note
it retraced right to the top of the expected support, but I'd still exercise caution entering a long right now, but it depends on your risk tolerance. It closed on a strong rebound today, and we are at a very important support zone, which means we have a good chance for a turn around, but if support is not held at this level, the downturn will likely be very large.Note
Long term support has been found in the range of 105-95 dollars. If you're confident it is good place to buy, but I would personally prefer to wait until a stronger upwards or downwards trend is formed before entering another position
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