COFFEE Technical Analysis for Today 
 

12.01.2017


Coffee traded at 149.47 on Wednesday relatively higher than the previous close. A strong rally can be observed in the Coffee prices on Wednesday due to an increasing demand against the tight supplies due to an unfavorable seasonal climate in Brazil, a major Coffee producing country pushed up the prices.

Also, the soft US Dollar index post outcome of Donald Trump’s Press Conference failing to clarify more about fiscal plans turned out positive for Brazilian Real (BRL) currency which resulted in strong Coffee prices as Brazilian farmers fetch more profits from U.S regions. As seen in the chart, an uptrend is expected in Coffee to test the next Fibo level 50 i.e. 153.40 & hence, buying may be recommended further.

Resistance – 150.80-152.89 Pivot - 149.27

Support – 147.82-145.52 Expected Trend - Bullish

 

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  COFFEE Technical Analysis for Today 
 

12.01.2017


Coffee traded at 149.47 on Wednesday relatively higher than the previous close. A strong rally can be observed in the Coffee prices on Wednesday due to an increasing demand against the tight supplies due to an unfavorable seasonal climate in Brazil, a major Coffee producing country pushed up the prices.

Also, the soft US Dollar index post outcome of Donald Trump’s Press Conference failing to clarify more about fiscal plans turned out positive for Brazilian Real (BRL) currency which resulted in strong Coffee prices as Brazilian farmers fetch more profits from U.S regions. As seen in the chart, an uptrend is expected in Coffee to test the next Fibo level 50 i.e. 153.40 & hence, buying may be recommended further.

Resistance – 150.80-152.89 Pivot - 149.27

Support – 147.82-145.52 Expected Trend - Bullish

 

News and Analysis >>

 

View Full Report >>

 

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