AS YOU CAN SEE FROM THE LONG TERM GRAPHS COFFEE HAS BEEN ON A DECLINE FOR OVER A YEAR, BUT RECENTLY SHOWED AN UPSIDE BREAKOUT. IS THIS A VALID BREAKOUT OR JUST A BULL TRAP?!
AS OF FRIDAY CLOSE;
PRICES SEEMS TO BE STUCK INBETWEEN 113,35-117,00 AREA.
IF WE SEE A DAILY CLOSE ABOVE 117 WE MAY ENTER LONG, IF WE SEE A DAILY CLOSE BELOW 113,35 WE WILL ASSUME THIS A BULLTRAP AND ENTER SHORT.
FOR NOW JUST WATCHING ON THE SIDELINES...
AS OF FRIDAY CLOSE;
PRICES SEEMS TO BE STUCK INBETWEEN 113,35-117,00 AREA.
IF WE SEE A DAILY CLOSE ABOVE 117 WE MAY ENTER LONG, IF WE SEE A DAILY CLOSE BELOW 113,35 WE WILL ASSUME THIS A BULLTRAP AND ENTER SHORT.
FOR NOW JUST WATCHING ON THE SIDELINES...