Coffee Arabica possible bull trend

6 בדצמ׳ 2023

Upside break of the downtrend channel with conviction and volume suggests a bullish scenario in prices. A new structure formation begins with re-accumulation above the downtrend line and below the Value Area High (VAH) in the structure. Current support at 175 and resistance at 187. The most probable movement is sideways to bullish. Monitor the formation of the structure and the break of VAH for confirmation to the upside