The coffee price has been moving downward since February last year within the framework of the superior wave Y in turquoise. In our primary expectation, however, this descent should not last much longer. In the orange target zone between USX 144.40 and USX 136.40, it should come to the low, followed by subsequent rises. Only falling below the zone would put a spoke in the wheel. Then, the price would have to drop much further within our 35% probable alternative before the reversal sets in.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.