bucketshopper
Long

KC 6/29 Review

ICEUS:KC1!   COFFEE C FUTURES
Coffee finally seeing a breakout after spending most of June in a range. Sept. contracts finally seeing a close, albeit a small one, above the 100 mark. Temps in Brazil, along with some chatter about a frost, boosted prices today. Shipping delays are helping provide some near-term support as well. From a technical standpoint, prices closed almost right at the 34-day MA. Today's resistance also coincided with the 23.6% retracement off the March 26 break high / June lows. The shorter 9-day MA, which was flat over the last week, has started to turn higher as well which is supportive for an upward trend. Overall, fundamentals are giving a bullish tilt to prices here as frost concerns have historically been the catalyst for further upside. A close above 103 points to a retest of the 38.2% retracement at 108.45.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out