KCK2022 (Coffee Futures) , H4 Potential For Bullish Bounce!

34255 kck2022 coffee futures h4 potential for bullish bounce

Type: Bullish BounceKey Levels:Resistance: 244.90Pivot: 226.85Support: 214.55Preferred Case:Prices are on bullish momentum. We see the potential for a bounce from our Pivot at 226.85 in line with 78.6% Fibonacci retracement and 100% Fibonacci projection towards our 1st resistance at 244.90 in line with 78.6% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator as it is at support level.Alternative Scenario: Otherwise, prices can potentially dip towards our 1st support at 214.55 in line with 78.6% Fibonacci retracement, which is also a graphical overlap support.Fundamentals:No major news.

Source: Tickmill

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