Fibonacci
Break out Pivot: 150.50
Crack Down Pivot: 119.50
Trading Levels
Support and Best Buy level 130, Resistance or best short level 140.20. A break above 150.50 upside target capped at 173, up to 177 - 184 in extension. However, 119.50 breached, threatens 96 on the downside and 86 in extension.
Downside number probabilities are very slim fundamentally.
Technicals
Some of the early indicators such as Stochastic oscillators, Commodity Channel Index, Parabolic SAR are firmly pointing towards northbound journey as highlighted in the multi-year chart followed by an emerging bullish candlestick pattern.
Strategy and Our Approach: Bullish
Short-Term to Near-Term traders buy zone between 122 - 130 for near-term target 140.20 and 150.50 in short-term. Stop loss or reversal at or below 112
US Coffee prices are now at $126
