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Is this the time to invest in coffee?

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• The coffee price had a great 2016. In this year the coffee price was able to increase in value by a few dozen percent. Today, all that profit has disappeared like snow in the sun. Since the beginning of 2017 there has been a downward trend and at the moment even the support line is under fire.

• Chris Kimble, technical analyst at Kimble Charting, has been charmed by the coffee price. And that has to do with the fact that there is an interesting pattern visible at the coffee price. Soon coffee will have to choose a direction and investors should not miss this moment, of course.

Investors must focus their sights on the coffee chart

 

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• On the chart above, coming from Kimble Charting, it can be seen that the coffee price has been around for more than 14 years with a support line. Due to the fall in prices in recent months, the coffee price has now returned to this support line. In addition, sentiment is badly negative, which means that few investors rely on a recovery movement.

• The same situation was visible in the year 2013 when the coffee price also ended up at the support line and also had to do with a heavy pessimistic mood. At that time the coffee price then doubled in value within a year.

• Is this again the ideal time to invest in coffee?