Will the coffee quotes grow?
Recommendation for COFFEE: Buy
Buy Stop: Above 114
Stop Loss: Below 105
Indicator | Value | Signal |
RSI | Buy | |
MACD | Buy | |
MA(200) | Neutral | |
Fractals | Neutral | |
Parabolic SAR | Buy | |
Bollinger Bands | Neutral |
Chart Analysis
On the daily timeframe, Coffee: D1 approached the resistance line of the short-term downtrend. It must be broken upward before opening a position. A number of technical analysis indicators generated signals for further growth. We do not rule out a bullish move if Coffee rises above the last fractal upper and 200-day moving average line: 114. This level can be used as an entry point. We can place a stop loss below the Parabolic signal and 2 last lower fractals: 105. After opening a pending order, we move the stop loss following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders