COFFEEC trade ideas
COFFEE Potential Short! Sell!
Hello,Traders!
COFFEE broke a local rising support
Then went down and is now back up
To retest the broken line which became a resistance
And I am expecting a local pullback
Towards the target below
Sell!
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Coffee prices to new highsWith global inflation setting new records high, coffee prices can be set to trend higher
in the upcoming months.
From a wave perspective 5 waves were done to the upside finished with a bearish divergence showcasing
a correction to the downside were it's end can be expected near wave 4 to then start a new rally to the upside.