Inverted Hammer

Inverted Hammer
The coffee market this week has also worked within the consolidation that is between 230.00 and 242.25 at least that was the maximum now being the highest at 244.50.
Although the market has made a new top, do it right after the market fell, showing fatigue and fell again by closing the week at 234.60.
The configuration of the figure of Japanese candlestick in the weekly chart of coffee, also shows that the market is tired of going up and suggests a correction, which had already commented on it last week, the disruption of consolidation of the minimum opening target for the fix brackets technicians at 225.00, 220.00 and 216.00 in a decline over the medium and 61.8% shrinkage of Fibonacci.
In the physical beginning of the year always starts slow, but quality coffees is still disputed and the premiums are being paid because all the time, getting washed coffee in the house of 480.00 to 500.00 dollars per bag of 60 kg and natural coffee drink in the house getting thin 380.00 to 450.00 per bag of 60 kg.
The rains that fall in the coffee regions bring growth to crop grain filling, but also bring some diseases and difficulties in the field to make the cultural practices, but not everything is perfect have to thank our eternal Father and wait to enter the field to make a better deal on our crops.
In the field of macro economy there is no news crises and still has no solution in the short term, what we can do is be alert not to be surprised.
The scenario remains the same coffee also unchanged, where inventories are low for consumption, making the industry work for Mao's mouth, the climate, the major killer of agriculture, continues to hamper the work of collection of Central American countries, where again we can deduce that the harvest will be poor quality of them supporting the bullish trend that should last for a long time, and decreases the size of the expected correction.
Let's wait for the market movement
A good week
Wagner Pimentel
WWW.cafezinhocomamigos.blogspot.com