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The #C-COFFEE price forecast in our January 9, 2020 technical analysis was bearish.
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.
Order | SELL |
Sell stop | Below 114.92 |
Stop loss | Above 124.92 |
According to Brazil’s statistics agency IBGE.
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