Coffee nearing the orange support line around 122 (2nd month continuation, about 119-120 front month ).

Interesting fact about this correction lower from 134 to 122 is that this is the first time in a couple years that we actually have an up-sloping support line (orange line).

If the orange support holds this could mark a longer term trend reversal.

On the downside further targets remain the lower Bbands as well as the previous lows around 113.

IMHO selling put spreads out in Sep16 might be a good risk reward once we reach the orange line (U16 110/100 p spread). The U provides some decent premium over the other contracts as this is the frost scare month.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out