Coffee Futures (KCK2022), H1 Potential for Bearish Dip!

36502 coffee futures kck2022 h1 potential for bearish dip

Type: Bearish DipKey Levels:Resistance: 229.45Pivot: 227.30Support: 220.80Preferred Case:We see the potential for further bearish continuation from our Pivot at 227.30 in line 78.6% Fibonacci projection towards our 1st support at 220.80 in line with 50% Fibonacci retracement. Our bearish bias is further supported by stochastic indicator where it is at resistance level.Alternative scenario:Price might move towards the 1st resistance level of 229.45 in line with 100% Fibonacci projection and 78.6% Fibonacci retracement.Fundamentals:No major news

Source: Tickmill

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