fb#C-COFFEE Price Forecast | Coffee price forecast bullish after Brazil crop downgrade | IFCM Hong Kong

Technical Analysis #C-COFFEE : 2021-02-25

Recommendation for COFFEE:

Strong SellSellNeutralBuyStrong Buy

Above 139.55

Buy Stop

Below 126.68

Stop Loss

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Senior Analytical Expert
Articles 1725
RSI Sell
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

Chart Analysis

IFC Markets Tech Analysis

The #C-COFFEE technical analysis of the price chart in daily timeframe shows #C-COFFEE,Daily is rising above the 200-day moving average MA(200), which is rising itself. We believe the bullish momentum will continue as the price breaches above the upper Donchian boundary at 139.55. A pending order to buy can be placed above that level. The stop loss can be placed below 126.68. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis

Rabobank revised downward Brazil’s coffee output estimate. Will the COFFEE price continue rebounding?

Rabobank downgraded Brazil’s coffee output estimate yesterday. The Dutch bank is a global leader in food and agriculture financing, and after a new crop survey Rabobank cut its estimate for Brazil coffee production for the coming July 2021 to June 2022 coffee year by 2.1% to 56.20 million bags. Lower supply estimates are bullish for coffee price.

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