COULD BE EXCELLENT BULLISH SIGNAL. LOOK FOR APPROACH OF BLACK TRENDLINE RESISTANCE. AFTER RECENT BULLISH ENGULFING CANDLE IN JAN2017, PRICE WENT FROM AROUND $1.40 TO $1.59.
I see a bullish divergence on the daily chart for coffee. The MFI has made higher lows while price has made lower lows. I believe coffee is headed higher to at least the 50% level of 1.4585 (if not high 140's).
I think the long term trend of bullish gold/yen may be in beginning stages of reversing. On a daily chart, the KYT indicator has turned bearish. The M.F.I gave an amazing overbought signal earlier this month, but I still believe we will see this pair head lower. I look for the supportive Gann angles of around $1360 to be hit.
Very interesting potential triple-bottom in this spread. Potential bullish divergence on price and M.F.I. indicator. Indicator seems to be making higher lows while price is making lower lows.
I see the Money Flow Index starting to make lower highs while the Aussie/Kiwi hasn't really followed it lower. This tells me volume is coming out of the strength, so this pair could revert lower.
