Type: Bearish DropKey Levels:Resistance:154.30Pivot:164.00Support:142.05Preferred Case:Looking at the H4 chart, my overall bias for KC1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 142.05, where the recent low is.Alternative Scenario:Price may head back up to retest the resistance at 154.30, where the 38.2% Fibonacci line is.Fundamentals:There are no major news.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/coffee-c-futures-kc1-h4-potential-for-bearish-drop"
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