Coffee Forms 123 Top – Time to Short?

As you can see in the Daily Coffee chart below, Coffee Futures have completed a 123 top formation and we will wait for prices to break below the #2 point of 194.4 before we short the market.

The 50% Retracement Level from the last major move on the daily chart is 168.25.  That gives us plenty of down-side potential to profit on this trade.  Stay tuned!

Daily Coffee Futures = July 2014Monthly Coffee

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