Turning bearish on KC

ICEUSA:KC1!   Coffee
Looking for some downside correction as we reached the upper trend channel IMHO            

- Ran into resistance without follow through for today.
- Overbought on daily chart
- At upper BBands on weekly chart

- There is chatter of weather issues (drought) in Brazil, so I am cautious
- Also, 9 day MA crossed 20 day, 50 and 100day MA north, so that is bullish too
Trade closed: target reached: There is a little room to go on the downside, but the momentum is disappearing, hence it is not worth seeing coffee grind it out (LOL).

I am turning neutral and waiting to add longs via options for the first half of November or when the price reaches 115 or below.

Until then, I take profits and run.....
good job

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