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Re: July COFFEE Chart // Randolf *PIC*
In Response To: July COFFEE//TJC *PIC* ()

Here is the standard continuous chart for Coffee. Couldn't help but notice price has come back to the major long term support 'area' of 1.72 which was the breakout pt of a multi year channel top. That is also a Fib 61.8% retracement point of the long term low to last high as well. Price is not likely to break below such a strong support level. Price is also very oversold with postive divergence showing in the oscillators. Could be a nice trade here if one didn't mind a drawdown if early. "OR" wait til price turns and starts its uptrendline once again clearing the 20ema and turning that back up again. Wouldn't take much of a price rally to accomplish that.