See picture for analysis
Evidence for Longs
Pros:
1) bullish with inflation
2) food shortages
3) potential storms going into summer which might kill coffee beans.
4) Trend = Uptrend so any longs will be trending.
Cons:
1) Price below + reacting off of the 200MA
2) hard to scalp on lower timeframes + commissions/ swaps can be high.
Evidence for Longs
Pros:
1) bullish with inflation
2) food shortages
3) potential storms going into summer which might kill coffee beans.
4) Trend = Uptrend so any longs will be trending.
Cons:
1) Price below + reacting off of the 200MA
2) hard to scalp on lower timeframes + commissions/ swaps can be high.