After a strong rally and moving far from its moving averages, coffee futures have started a healthy and expected pullback.
As we can see, the 20-period moving average (green) stands out as a strong support level and a potential target for those who sold near the top — whether for a partial profit-taking (expecting a deeper correction) or a full exit.
The candle formed right on the 20MA clearly reflects this dynamic: positions being closed by some traders and opened by others.
This price zone offers a good buying opportunity, with a tight stop and a long target in favor of the prevailing uptrend.
The trade symmetry is favorable, further reinforcing interest in this region.
Initial targets would be the previous high, and if that level is broken, the Fibonacci projections for more ambitious upside moves.
As we can see, the 20-period moving average (green) stands out as a strong support level and a potential target for those who sold near the top — whether for a partial profit-taking (expecting a deeper correction) or a full exit.
The candle formed right on the 20MA clearly reflects this dynamic: positions being closed by some traders and opened by others.
This price zone offers a good buying opportunity, with a tight stop and a long target in favor of the prevailing uptrend.
The trade symmetry is favorable, further reinforcing interest in this region.
Initial targets would be the previous high, and if that level is broken, the Fibonacci projections for more ambitious upside moves.
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Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.