The Hourly View for Coffee
- Currently, KC1’s price is down $0 (0%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move up.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
- Price action traders may also wish to note that we see a doji candlestick pattern on Coffee. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Coffee’s hourly price chart is shown below.
The Daily View for Coffee
- At the time of this writing, KC1’s price is up $0.35 (0.23%) from the day prior.
- It’s been a feast for bulls operating on the daily timeframe, as Coffee has now gone up 4 of the past 5 days.
- Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Coffee. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- Of note is that the 20 day changed directions on KC1; it is now pointing down. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Below is a daily price chart of Coffee.