Recommendation for COFFEE: Buy
Buy Stop : Above 123.53
Stop Loss : Below 115.17
| Indicator | Value | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On the 4-hour timeframe #C-COFFEE: H4 is rising above the 200-period moving average MA(200), which is rising itself. We believe the bullish momentum will continue as the price breaches above the upper Donchian boundary at 123.53. A pending order to buy can be placed above that level. The stop loss can be placed below 115.17. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis
Coffee global exports declined in June. Will the COFFEE price continue rebounding?