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Coffee Wave Analysis – 21 November, 2019

  • Coffee broke key resistance level 110.00
  • Likely to rise to 114.61

Coffee today broke sharply above the key resistance level 110.00 (which stopped the previous impulse wave (i) at the start of November)

The breakout of the resistance level 110.00 should accelerate the active impulse wave C of the multi-month ABC correction 2 from the start of May.

Coffee is expected to rise further toward the next resistance 114.61 (former multi-month high from the start of July).

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