TMV Swing Trading report – Short May Coffee @ 275.25 – After trading through the trigger price to confirm the sell at 275.25, coffee continued to trade lower until it found support at the lower ascending parallel line.  The current price action suggests Coffee may bounce off support and trade back to the 20-day EMA at 273.50. I suggest buying coffee–currently at 270.70–to cover the short position with a nice 450 point gain. I will monitor the rebound for a new selling opportunity.

 

May Coffee - 60- minute chart

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