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February 18, 2021 at 01:10PM
• Coffee reversed from support level 120,00
• Likely to rise to resistance level 128,70
Coffee recently reversed up from the key support level 120,00, standing near the lower daily Bollinger Band and the 38,2% Fibonacci correction of the previous sharp upward impulse from November.
The upward reversal from the support level 120,00 started the active short-term corrective wave (ii).
Coffee can be expected to rise further toward the next resistance level 128,70 (target price for the completion of the active corrective wave (ii)).\
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/coffee-wave-analysis-18-february-2021-20210218/
Selected by fonecable.com
Search Web: Coffee Wave Analysis 18 February, 2021
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