gorillacharts
Long

Coffee Tactical Low in New Bull Cycle

ICEUSA:KC1!   Coffee
I am bullish Coffee             since a series of bullish momentum divergences started to develop in February, March and April. As with other commodities , I am convinced that the early 2016 lows were important cyclical lows. I am therefore bullish Coffee             long-term. The weakening US Dollar             should further support the entire commodities complex.
The latest correction brought the futures back to an important breakout level, which was succesfully tested. The next swing in coffee             futures should target 169/170, although it may fade at 160. An interesting trade, nevertheless.

ETF Idea in New York: JO
ETF Idea in London: 3CFL ($-listed, 3x times leverage, risky)

Best,

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