Robusta coffee term of September 2022 (LRCU22) had a rebound, increased by 11 USD (+0.56%), the price closed at 1973 USD/ton.
The rally in US stocks ahead of this week’s corporate earnings season makes the dollar less attractive. The USD index fell 0.16% to 106.52. In general, the USD will remain unpredictable when this week will release many important information such as the Fed’s interest rate hike, GDP and personal consumption spending in the second quarter of the US.
Commodity prices in general and coffee on both exchanges in particular recovered as investors returned to buy because the risk aversion was somewhat eased and rebalanced the previous oversold state.
According to technical analysis, all technical indicators are showing faithful signals, it is expected that the price is still struggling to accumulate within the range of 194x-201x, beyond this price range, the next trend of the price will clearly form. sharp. While waiting for important information about the Fed interest rate announced this Thursday, Customers consider reducing their status or standing outside the market to observe more, wait for information to be announced and the price trend is clearly established, and then come up with a new trading strategy.
HINTS BUY/SELL STRATEGY IN THE Session (refer).
NEW BUYING CL:
- Support zone 1: 1945-1950 USD,
- Support zone 2: 1930-1935 USD,
- Proportional buy, stop loss $1915.
CL SELL DOWN:
- Resistance level 1: 1985-1990 USD,
- Resistance level 2: 2005-2010 USD,
- Sell proportionally, stop loss 2030 USD.
Bank accompanying coffee businesses:
Sacombank is a bank that can supply commodity price derivatives with the permission of the State Bank of Vietnam, and is a reputable long-term partner of major commodity exchanges in the world such as CBOT, CME, NYMEX, LME … aims to help customers limit risks on market prices, increase business profits, protect capital …
Interested please contact: 028 6288 4100 / [email protected] or click here for more details.
