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Coffee prices up 19%!

2:29 PM 22 November 2019

Coffee prices were depressed for a long time but have been rallying very strongly recently. The price has just broke $116 and is up 19% over the past month! This stunning rally is taking place despite weakness of the Brazilian real and one may wonder what happens if the BRL recovers. Technically one may notice a large reverse head-and-shoulders formation. Despite recent rally coffee price remains well below the decade average of $152.

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