KCK2022 (Coffee Futures) | H1 Bullish Pressure
Type : Bullish Pressure
Resistance : 228.10
Pivot: 220.20
Support : 214.00
Preferred Case: Price is near pivot level of 220.20 in line with 50% Fibonacci retracement . Price can potentially rise up to the 1st resistance level at 228.10, in line with 61.8% Fibonacci projection , with a graphical swing high resistance. Our bullish bias is further supported by price trading above the Ichimoku cloud indicator.
Alternative scenario: Price might also dip towards the 1st support level of 214.00 in line with 61.8% Fibonacci projection and 78.6%% Fibonacci retracement .
Fundamentals: No Major News
Resistance : 228.10
Pivot: 220.20
Support : 214.00
Preferred Case: Price is near pivot level of 220.20 in line with 50% Fibonacci retracement . Price can potentially rise up to the 1st resistance level at 228.10, in line with 61.8% Fibonacci projection , with a graphical swing high resistance. Our bullish bias is further supported by price trading above the Ichimoku cloud indicator.
Alternative scenario: Price might also dip towards the 1st support level of 214.00 in line with 61.8% Fibonacci projection and 78.6%% Fibonacci retracement .
Fundamentals: No Major News
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results