Running Alpha Sentiment Intelligence is currently indicating that the Coffee market is turning the corner iminently -- look for a massive rally from here into 2017. Nominated for the 2016 Benzinga Fintech Awards this May in New York City, RunningAlpha is dedicated to providing actionable intelligence.
Looking for a dip on the daily to get long.
- The last 2.5 years have set up a bullish trend line that we bounced off at the start of this year
- A drop down near to 2800 levels would off fantastic risk reward opportunity
Short is much more possible on this commodity according to channel and bears on the market.
On downtrend we have 2 more support areas. But always market decides the way we just follow it :)
Soybeans today gapped up after friday closed obove the broken trendline. Im going long here because softs are way behind metals and energy, black line is comparing with commodity index
Market is clearly over-bought! 1D, 4H, 1H and 30MIN graphs all show clear signs of short opportunity.
Coffee futures experience head and shoulders patterns and the next move is clearly downward. RSI and CCI have values of 66.8725 and 184.6364 which clearly indicates SHORT pattern.
Stoch RSI is 98.6 way over 80% mark which means over-bought market with no other...
The price of CBoT MAY16 wheat develops and interesting short play opportunity here, same although going short in the lower regions usually is not to be recommended.
Price has started to create a descending price range channel during late January with lower highs and lower lows. The candle of March 2 is a bit contradictory in the sense that price made a lower low...
Coffee futures generally show a clear pattern of systematic ups followed by similar downs. Recently, market has been bearish with structural lows below 120.00, 115.00 and 112.00. Structural low below 112.00 has been followed by a higher support at 112.00. If the market breaks it's first resistence point at 115.90, which is highly likely, then coffee is expected to...
... strong downward trend, which does not intend to end. Perhaps nature itself will do it instead of the market. Sudden Stratospheric Warming is coming. In brief - another attack of deep frost will damage winter $wheat. Chances for now: 65/35
GL!
www.youtube.com
fortune.com
