D707
Long

Looking for a significant bottom in coffee

ICEUS:KC1!   COFFEE C FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)
looking for a bottom from here or a little bit lower, ideally 98.30 would hold

** Just an idea, NOT a forecast
Comment: Coffee needs to show some strength early August to bolster the bullish idea, close above 102.65 should be enough to signal that a low might be in place
There is no resistance at around 98 what you drew. Wait for lower price. Keep calm!
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D707 Zolchello
@Zolchello, that’s true, I thought bulls would step in at the .618 fib, but I was Wrong. There’s certainly a bearish case for coffee that calls for much lower prices as there’s a bullish case. At this point, it’s safer to stay on the sidelines until coffee finds a bottom
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