Arabica Coffee (KC) Weekly MACD Green Line Flattening

Arabica Coffee (KC) consolidated Wednesday's bounce yesterday, and appears to be forming a higher low versus the early Jan and December lows. Long term bulls will now be waiting for a higher high versus last week's high, before comfortably declaring a Double Bottom (on the weekly chart) and decisively buying in anticipation of the reversal of the late October-December downchannel. More aggressive bulls will increasingly buy any further dip to near the psychologically key 1.00 whole figure level as they begin positioning for a test in the next few months of downtrend resistance (on the weekly chart) and last October's high (which was reached within a month of rallying off near current levels). The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am long as of a bit more than a week ago at 1.06, and am targeting the red zone for Wednesday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).

Arabica Coffee (KC) Weekly/Daily/4hr

KC (Arabica Coffee) Technical Analysis

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