Coffee C Futures ( KC1! ), H1 Potential for Bullish bounce
Type : Bullish Bounce
Resistance : 225. 40
Pivot: 221.95
Support : 219.75
Preferred Case: With price moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 225. 40 in line with the horizontal swing high resistance from our pivot of 221.95 in line with the 23.60% Fibonacci retracement and horizontal pullback support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 219.75 in line with the horizontal pullback support and 38.20% Fibonacci retracement .
Fundamentals: No Major News
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Resistance : 225. 40
Pivot: 221.95
Support : 219.75
Preferred Case: With price moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 225. 40 in line with the horizontal swing high resistance from our pivot of 221.95 in line with the 23.60% Fibonacci retracement and horizontal pullback support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 219.75 in line with the horizontal pullback support and 38.20% Fibonacci retracement .
Fundamentals: No Major News
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
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