COFFEE:
Our expectations: A possibility for short positions after a break below a horizontal support and a trend confirming "Three black craws" formation. Entry after a little correction at 127.00 and stop at 131,50
Alternative scenario: If price breaks back above 128,70 the negative formation will be canceled and we can look out for new short positions at higher price.
Comments: Downtrend and a fresh new low.
The breakout below the last horizontal support signals a probable new downward movement.
SMA50 and SMA200 in a bearish formation and a price below them.
"Three black craws" a strong trend confirming signal with a probability for a new impulse after a little correction.
RSI(14) and CCI(14) in negative territory.
Trader Nikolay Georgiev
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