Coffee C Futures ( KC1! ), H4 Potential for Bullish Continuation
Title: Coffee C Futures ( KC1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 214.05
Pivot: 182.95
Support: 172.60
Preferred case: Looking at the H4 chart, my overall bias for KC1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. To add confluence to this bias, price is also along an ascending trend line. If this bullish momentum continues, expect price to retest the pivot at 182.95, where the overlap support is, before continue heading towards the resistance at 214.05, where the overlap resistance is.
Alternative scenario: Price may head back down to break the pivot at 182.95, where the overlap support is, before heading towards the support at 172.60, where the overlap support and 23.6% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 214.05
Pivot: 182.95
Support: 172.60
Preferred case: Looking at the H4 chart, my overall bias for KC1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. To add confluence to this bias, price is also along an ascending trend line. If this bullish momentum continues, expect price to retest the pivot at 182.95, where the overlap support is, before continue heading towards the resistance at 214.05, where the overlap resistance is.
Alternative scenario: Price may head back down to break the pivot at 182.95, where the overlap support is, before heading towards the support at 172.60, where the overlap support and 23.6% Fibonacci line is.
Fundamentals: There are no major news.