ANALYSIS OF THE COFFEE SHEET DATED 09/07/2018
I. Diagram Analysis: Robusta9 / 2018 time frame of 4 hours (current price: 1662).
2. Findings: After touching the 1610, the price line quickly and strongly rebounds, indicating the possibility of entering the correction phase of price increase in the short and medium term. In the short term, the price line may fluctuate between 1675 and 1610 in the short term. The downtrend continues if there is a downside move below 1610 resistance.
Expected range: This session is expected after the opening of the price session can maintain the upward momentum to the 1675 then weakened to 1650 and then recover the average price at the end of the session. Expected price range: 1675 - 1650.
5. Expected trend: Neutral.
6. Additional scenario: If you increase through 1675 then increase to 1685 and then reduce again. If you fall below 1650, then reduce to 1640 then recover.
7. Resistance levels: 1675 - 1685 - 1705.
8. Support levels: 1650 - 1640 - 1630.
II. Analysis chart: Arabica9 / 2018 time frame 4 hours (current price: 114.10).
2. Comment: After approaching 106.50, the strong and fast recovery line indicates the possibility of entering the short-term and medium-term uptrend. Looking ahead, the price line will look for a temporary resistance around 116 or higher and then enter a short-term correction phase.
The downtrend continues to consolidate if there is a downside move below 106.50.
Expected band: The next session is expected after the opening of the session, the price may continue to rise to 116.00 and then down to 112.50 then recover the average price at the end of the session. Expected price range: 116.00 - 112.50.
4. Expected trend: Neutral.
5. Auxiliary scenario: In case of rising through 116.00, the possibility of rising to 118.00 is weakened. If you drop below 112.50, then reduce to 110.00 then recover.
7. Resistance levels: 116.00 - 118.00 - 121.00.
8. Support levels: 112.50 - 110.00 - 108.00.
(For reference only)
Author: HNH @ 06h30