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KCK2022 (Coffee Futures), H4 Potential Bearish Reversal

34544 kck2022 coffee futures h4 potential bearish reversal

Type: Bearish ReversalKey Levels:Resistance: 239.30Pivot: 232Support: 221.25Preferred Case:Price is near pivot level of 232 in line with 23.6% Fibonacci retracement. Price can potentially dip to the support level of 221.25 with a graphical swing low level. Our bearish bias is supported by prices trading under the Ichimoku cloud indicator. Alternative Scenario: Price could also head towards the 1st resistance level of 239.30 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection.Fundamentals:No Major News

Source: Tickmill

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