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Coffee Price Bias Is Still Bearish
The #C-COFFEE price forecast in our July 10, 2020 technical analysis was bearish.
- Market data after #C-COFFEE,H4 July 10, 2020 technical analysis still indicate bearish bias.
- #C-COFFEE,H4 closed 1.6% lower on July 10, 2020.
- Resurgence of COVID-19 in US is bearish for coffee consumption – Americans are seeking out a cooler start to their day, with orders of cold brew soaring by 232% since shelter-in-place orders began.
Here is what indicators show as of July 13, 2020:
- The Parabolic Indicator gives a bearish signal.
- The Donchian channel indicates downtrend: it is widening down.
- The MACD indicator gives a bearish signal.
- The RSI oscillator gives a neutral signal.
- The Fractals give bearish signal.
- The MA(200) Indicator gives a bearish signal.
So the bearish forecast still stands for the #C-COFFEE,H4.
Order | SELL |
Sell stop | Below 97.35 |
Stop loss | Above 102.77 |
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