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Coffee Price Forecast Remains Bearish
The #C-COFFEE price forecast in our September 30, 2020 technical analysis was bearish.
- Market analyses after #C-COFFEE,Daily September 30, 2020 technical analysis still indicate bearish bias.
- December arabica coffee fell by 1.3% on October 2, according to Reuters data.
- Indonesia’s robusta coffee exports for the October 2019 to September 2020 coffee year were 11.82% higher than the same period in the previous year.
Here is what indicators show as of October 5, 2020:
- The Parabolic Indicator gives a bearish signal.
- The Donchian channel indicates downtrend: it is tilted down.
- The MACD indicator gives a bearish signal: it is below the signal line and the gap is widening.
- The RSI oscillator gives a neutral signal.
- The Fractals give a bearish signal.
- The MA(200) indicator gives a bearish signal.
So the bearish forecast still stands for the #C-COFFEE,Daily.
Order | SELL |
Sell stop | Below 105.74 |
Stop loss | Above 115.15 |
International Coffee Organization October 1, 2020 report.
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