COFFEE Bias Is Still Bearish

The #C-COFFEE price forecast in our January 30, 2020 technical analysis was bearish.

Market analyses after #C-COFFEE,Daily January 30, 2020 technical analysis still indicate bearish bias.

• Brazil's 2020 coffee crop is still expected to top 2019 production : 15.9% - 25.7% more, at 57.5 -62.01 million 60-kg bags.
• Price has fallen below 200-day moving average MA(200).

Here is what indicators show as of February 5, 2020:

• The Parabolic Indicator gives a bearish signal.
• TheDonchian channel indicates no trend: it is flat.
• 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 breached into the oversold zone.
• The Fractals give bearish signal.

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

According to Brazil’s Conab (National Company for Food Supply).