KCK2022 (Coffee Futures) | H4 Bullish Bounce

35147 kck2022 coffee futures h4 bullish bounce

Type: Bullish BounceKey Levels:Resistance: 220.75Pivot: 211.10Support: 204.70Preferred Case:Price is near pivot level of 211.10 in line with 127.20% Fibonacci extension and 61.8% Fibonacci projection. Price can potentially move towards the 1st resistance level of 220.75. Our bullish bias is further supported by stochastic indicator as it is at support level.Alternative Scenario: Price could also head towards the 1st support level of 204.70 in line with 78.6% Fibonacci projection and 138.2%% Fibonacci extension.Fundamentals:No Major News

Source: Tickmill

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