Coffee Elliott Wave technical analysis [Video]
|Function: Counter-trend.
Mode: Corrective.
Structure: Triangle wave B (black).
Position: Black wave B of higher degree wave (Y).
Direction: Black wave C of higher degree red wave (Y).
Details: Wave B is now emerging into a triangle with the invalidation level at 184.8. A breakout above 194.5 will confirm the bullish run for the black wave C. However, if the triangle is invalidated, a new corrective structure will emerge. The red wave (X) becomes invalid below 175.4.
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