The #C-COFFEE price forecast in our January 9, 2020 technical analysis was bearish.

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Market analyses after #C-COFFEE,Daily January 9, 2020 technical analysis still indicate bearish bias.

  • Brazil's 2020 coffee crop is still expected to top 2019 production - 12.9% more, at 56.4 million 60-kg bags.
  • International Coffee Organization forecast of 0.9% decline over year in world output for 2019/20 remains an upside risk – not for short term though.
  • Here is what indicators show as of January 15, 2020:

    • The Parabolic Indicator gives a bearish signal.
    • TheDonchian channe indicates downtrend: it is widening down.
    • The MACD indicator gives a bearish signal: it is below the signal line and the gap is widening.
    • The RSI oscillator is falling but has not reached the oversold zone.
    • The Fractals give bearish signal.
    • The MA(50) indicator indicator gives a bearish signal.

    So the bearish forecast still stands for the #C-COFFEE,Daily.

    OrderSELL
    Sell stop Below 114.92
    Stop lossAbove 124.92

    According to Brazil’s statistics agency IBGE.

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