Good Afternoon Dynamic Traders
The week before Christmas is upon us – you can feel the frenzy and excitement in the air!
Coffee seems to be having it’s own little frenzy. Price has been in a sideways range since around October – up until last week that is, when price broke through support/triangle formation and figure.
Price seems to be doing a retest of the support as resistance – a healthy sign for a continuation to the downside should it continue trading below this area. If we have the right set up, a pullback strategy can be used here, or the more conservative approach is to await the next breakout for a short – obviously caution needs be taken with the major figure below, but all in all an interesting opportunity whatever your style of trading.
Gather your confluences and carry out your analysis.
Smart Trading.
Sonia Molina
Tags: coffee
