Coffee has been forming this J Hook for a while now and it looks poise to really move much higher as it usually is with these J Hooks, which are well used in candlesticks. The market has also been forming a bullish flag and today it has broken away and above 16800 on good volume of approx. 30k lots. If projections become a reality from either one of these formations, we could see this market above the 20000 mark.

I have posted that if the market started to move higher again on or before July 26th, we could have a daily cycle inversion, and oh boy have we had one.
The next daily cycle is within July 27th and Aug 02nd and I wouldn't be surprised to see a RIGHT TRANSLATION of the cycle due to the bullishness of the market. It also could have the same translation in the weekly high cycle. We'll soon know.

PIVOT 17137
RES1 17629
RES2 17952
SUPP1 16814
SUPP2 16322

HEAVIEST TRADED AREAS TODAY:

Before the break out: 16840
After the break out: 17195/17200.

Happy Tradings!!!

Nagual1