Coffee is trading near multi year horizontal support of 95 cents. While excessive supply and falling Brazilian real crushed the prices, there is ray of hope ahead. With price almost reaching 95 level which seems safe accumulation level, there can be gains in coming months. Farmers in Brazil are reducing coffee cultivation area will lead reduction in inventories in coming months. Price hovering near critical long term support risk to reward is very low for investing in coffee for some months.
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Please feel free to leave comments and get in touch with us on:
Twitter: bit.ly/2o9ItrA
Youtube: bit.ly/2Nh8sbE
Tradingview: bit.ly/2PCbed1
Happy Trading!
Team Bitbloxx