Coffee Ny:
Sowing the seeds for a buying opportunity at lower price levels!
Unable to defeat 2.40 very strong resistance!!!:(round number ,old neck line broken support , daily ++weekly falling mov avgs levels with their importance being enhanced by downside crossing of LT ma with ST ma.
Lack of trend indications (ADX) , a long and boring volatile sideways "zig-zag".
A bearish triangle showing up on the maps....
Fibonacci 50 % retracement @ 2,20 starting to show up "tired" signals.....
Fibonacci 61,8% retracement @ 2,00 waiting quietly to be touched...
LAWS OF GRAVITY WILL RULE PRICES ,SOON.......
BOTTON LINE:
If fundamentals can´t make you feel confortable in going short around 2,00 level.
Take the opportunity to go long , start when volatility abbates and daily volume increase . Add to longs inversely to new fund shorts!!!
Rgds
Alvaro
DESK
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