Bullish clues:
- General uptrend since October 2019
- Symmetrical triangle, and coffee price just perfectly rebound on the symmetrical triangle's support and the 50 EMA
- Bullish Harami on the support
- Hidden Bullish Divergence on the Relative Strength Index (RSI)
- 50 Exponential Moving Average act as a support
Fundamental news: (from Reuters)
- Lower production in Brazil, driven partly by drought and frost, has helped to tighten arabica supplies (- 25.7%) according to Conab. Released yesterday (September 21, 2021).
- Brazil's Cooxupe, the world's largest coffee co-op and the country's No.1 exporter, expects significant damage to the 2022 crop from frosts that hit fields in July. Released yesterday (September 21, 2021).
Objectives:
If the symmetrical triangle is confirmed, coffee could goes up to the level of $215.00 USD (highest point of the symmetrical triangle and resistance zone).
MAYBE WAIT A PULLBACK AS A CONFIRMATION OF THE SYMMETRICAL TRIANGLE
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- General uptrend since October 2019
- Symmetrical triangle, and coffee price just perfectly rebound on the symmetrical triangle's support and the 50 EMA
- Bullish Harami on the support
- Hidden Bullish Divergence on the Relative Strength Index (RSI)
- 50 Exponential Moving Average act as a support
Fundamental news: (from Reuters)
- Lower production in Brazil, driven partly by drought and frost, has helped to tighten arabica supplies (- 25.7%) according to Conab. Released yesterday (September 21, 2021).
- Brazil's Cooxupe, the world's largest coffee co-op and the country's No.1 exporter, expects significant damage to the 2022 crop from frosts that hit fields in July. Released yesterday (September 21, 2021).
Objectives:
If the symmetrical triangle is confirmed, coffee could goes up to the level of $215.00 USD (highest point of the symmetrical triangle and resistance zone).
MAYBE WAIT A PULLBACK AS A CONFIRMATION OF THE SYMMETRICAL TRIANGLE
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
交易結束：目標達成
Target reached! The symmetrical triangle was perfectly respected.
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。