CLICK ON CHART TO ENLARGE
If you’ve been bearish on Coffee since 2011, you’ve been on the right side of the trade, as Coffee has lost 66% of its value in a couple of years.
Due to long-term Fibonacci support and extreme sentiment, members bought Coffee calls a few weeks ago, reflected in the chart above and its been a good trade so far.
Now Coffee is making an attempt to break above a very important resistance line.
Joe Friday’s just the facts mam…. A breakout would be bullish for Coffee (JO) reflected in the chart above.