Coffee price goes DOWN

2020年8月9日

Hi! In my point of view we saw a long side movement, than a breakout. The shooting star appeared in a daily chart and even the confirmation arrived with the next day candle. Even a weakly chart shows a shooting star. Normally since the big top price (289) the things have been changed. Aug and sept are negative months. Oct is the comeback. Even the Corona news getting worst which confirms the turnback. Regarding the rules, evry correction takes at least 3 candles but it can takes 3-6 weeks. So on Monday we will see a price around 115.5 than bouncing back around the 120 area than goes down until 102, maybe 98 than the 6.5 weeks period is over ( the actual month will be October as well) so a new Long will come again.