Coffee market on the morning of June 27,
I. Trend analysis of Robusta coffee
1. Diagram Analysis: Robusta9 / 2018 time frame of 4 hours (current price: 1686).
2. Comment: The price line may continue to accumulate in the range of 1675 - 1695 before the development of the short-term upward correction phase 1725.
Support at 1660 - 1670 should hold so that the price line has a correction period. In case of penetrating below 1660, the price line could maintain its downward momentum to 1620 before adjusting up.
Expected range: This session is expected after the opening of the price session may be challenged to prevent 1695 then phase down to 1675 and then recover the average price at the end of the session. Expected price range: 1695 - 1675.
5. Expected trend: Neutral.
6. Auxiliary scenario: In case of increasing through 1695, the possibility of accelerating to 1705 and falling again. If dropped below 1675, then reduced to 1670 - 1660 then restored.
7. Resistance levels: 1695 - 1705 - 1725.
8. Support levels: 1675 - 1670 - 1660.
II. Trend analysis of Arabica coffee
1. Diagram: Arabica9 / 2018 time frame of 4 hours (current price: 117.70).
2. Outlook: The price line is maintaining its upward correction in the short term. Immediate resistance near 119.50 could cause the cumulative price range of 119 - 117 before continuing to develop the short term uptrend with target at 123.
Expected range: This session is expected after the opening of the price session can maintain above 117.00 then rise to 119.00 then weakened and average price at the end of the session. Expected price range: 117.00 - 119.00.
4. Expected trend: Neutral.
5. Auxiliary scenario: The upside to 119.00 is likely to increase to 119.50 then weaken. If you fall below 117.00, then reduce to 116.50 then recover.
7. Resistance levels: 119.00 - 119.50 - 121.00.
8. Support levels: 117.00 - 116.50 - 115.50.
(For reference only)
Author: HNH @ 06h30