KCK2022 (Coffee Futures) | H4 Bearish Dip
Type : Bearish Dip
Resistance : 233.50
Pivot: 221.45
Support : 202.30
Preferred Case: Price is near pivot level of 221.45 in line with 23.6% Fibonacci retracement. Price can potentially dip to the 1st support level of 202.30 which is a swing low support. Our bearish bias is further supported by price moving under the Ichimoku cloud indicator.
Alternative scenario: Price could also head towards the 1st resistance level of 233.50 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.
Fundamentals: No Major News
Resistance : 233.50
Pivot: 221.45
Support : 202.30
Preferred Case: Price is near pivot level of 221.45 in line with 23.6% Fibonacci retracement. Price can potentially dip to the 1st support level of 202.30 which is a swing low support. Our bearish bias is further supported by price moving under the Ichimoku cloud indicator.
Alternative scenario: Price could also head towards the 1st resistance level of 233.50 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.
Fundamentals: No Major News
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