fbCoffee Price Bias Is Still Bearish | IFCM

Coffee Price Bias Is Still Bearish

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The #C-COFFEE price forecast in our July 10, 2020 technical analysis was bearish.

  • Market data after #C-COFFEE,H4 July 10, 2020 technical analysis still indicate bearish bias.
  1. #C-COFFEE,H4 closed 1.6% lower on July 10, 2020.
  2. Resurgence of COVID-19 in US is bearish for coffee consumption – Americans are seeking out a cooler start to their day, with orders of cold brew soaring by 232% since shelter-in-place orders began.

Here is what indicators show as of July 13, 2020:

  • The Parabolic Indicator gives a bearish signal.
  • The Donchian channel indicates downtrend: it is widening down.
  • The MACD indicator gives a bearish signal.
  • The RSI oscillator gives a neutral signal.
  • The Fractals give bearish signal.
  • The MA(200) Indicator gives a bearish signal.

So the bearish forecast still stands for the #C-COFFEE,H4.

OrderSELL
Sell stopBelow 97.35
Stop lossAbove 102.77

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