Slobodan Drvenica
Windsor Brokers
COFFEE C
Bull-leg from 145.15 (07 Oct correction low) extended to 155.80 (Friday’s high) and generated bullish signal on daily close above 154.80 (Fibo 61.8% of 160.80/145.15 correction/former high of 29 Sep). Long bullish weekly candle adds on overall bullish sentiment for extension of near-term recovery towards 157.10 (Fibo 76.4%) and key barrier at 160.80 (22 Sep peak), the highest level since Feb 2015.
Broken daily Kijun-sen line offers solid support at 152.95, along with 151.75 (Fibo 38.2% of 145.15/155.80 upleg), which should be ideally holding dips, signaled by overbought Slow Stochastic of daily chart.
Res: 155.80; 157.10; 158.65; 160.80
Sup: 154.60; 152.95; 151.75; 150.50
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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