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p4917

High probability of seeing higher prices

Long
Coffee C Futures (ICEUS:KC1!)  
p4917 Updated   
ICEUS:KC1!   Coffee C Futures
Flag Seasonality Support and Resistance Bullish Flag bullflagpattern seasonality-trading seasonalities Agricultural Commodities Commodities bullrun short-term
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flagpattern seasonality supportandresistance bullishflag bullflagpattern seasonality-trading seasonalities agriculturals commodities bullrun short-term
I've entered long lately. Reasons:
  • Technically the trendchannel/flag has been broken to the upside. Trendcontinuation is very likely.
  • According to seasonality (10 years or longer) the price will peak in mid Octoboer/November (depends on the time period).
  • As problems in the supply chain, inflation etc. doesn't get solved quickly it increases only the price increase.
Comment:
Still long. Could be a fake drop back in the channel. See the weekly chart:

snapshot
Comment:
You might want to take a look on a seasonality chart covering the last five years:

snapshot
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