Spot the similarities in coffee movements.
Backed up by Fibonacci levels.
This commodity has respected these levels so far, so as the saying goes, trend is your friend till it ends.
Strong movements today but I would be looking at a weekly close below the 160 level before moving in.
Other fundamental factors to consider
- Weakening Real
- Strengthening USD
- Inelastic nature of coffee demand
May your trades work with you.
Backed up by Fibonacci levels.
This commodity has respected these levels so far, so as the saying goes, trend is your friend till it ends.
Strong movements today but I would be looking at a weekly close below the 160 level before moving in.
Other fundamental factors to consider
- Weakening Real
- Strengthening USD
- Inelastic nature of coffee demand
May your trades work with you.