Coffee futures

Technical Analysis – Coffee futures find strong resistance at 1.2456; further losses are expected

Posted on June 29, 2018 at 1:43 pm GMT

Coffee futures for September have reversed to the downside over the previous two days after printing a 20-day high of 1.1897, which holds near the 40-simple moving average (SMA) in the daily timeframe. From the technical point of view, the Relative Strength Index (RSI) is increasing the negative momentum as it lies below the neutral threshold of 50 and is approaching the 30 level. Moreover, the MACD oscillator holds above the trigger line but is strengthening its bearish structure. If the price [..]

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