Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Very important resistance at 3.35. If broken prices could test the next resistance at 3.40 (05/22/2017), date of the group JBS (the main frigorific is the Brazil) scandal.
If the real depreciates from 3,336 (closing of 12/22/17) to 3,400, the price of coffee should fall from 120.40 (closing of 12/22/17) to 118.13 so that nothing changes in the Brazilian domestic market.
Analyzing only for this aspect (devaluation of the Brazilian real), the support of 118.30 (minimum of 12/12/17 of the H18) at first should not be difficult to be broken