Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Coffee price has created lengthy declining wedge pattern that appears to have been broken out higher and now fallen back to classically "retest" the breakpoint. Today marks the first upwards recoil for this vicinity and suggests the eventual move higher as such a pattern implies. This is a daily continuous candlestick chart. In addition, drawn from valid pivot points that include the contract low, is an Andrews Pitchfork that seems to contain the price nicely and therefore serve as a guide in further price discovery.