Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
As stated yesterday, I now think the 12770-12800 level will be one of resistance throughout the day.
12685 =1.381% of yesterdays range. We are there now. I would expect an attempt to hold here initially. Next, 12640 =1.618.
Below these extensions, the next key level of support, 12550.
Today's pivot of 12840 would be a turning point for the market IMO.