COFFEE seems in an uptrend continuation. I'm expecting a deeper correction and a new wave up. A breakout on rising trendline invalidates the setup.
Update on a upsloping trendline (blue) which acts as resistance On the 5 hour chart, we should have generated a sell signal. I still remain short via puyt spread 1x2s, as frost is no longer an issue. It appears the market is still digesting this from last week and should correct lower IMHO as physical supplies out of Brazil remain steady. Warehouse stocks in...
Seems like no frost in Brazil. It was a busy weeks last week and throughout the weekend with fears a frost could hit coffee areas. None has been confirmed and worst fears did not play out. Once all of this is digested I expect some downside opportunities as the market goes back into trading technicals rather than emotions. Quite oversold and we saw sell...
As a former commodity trader, I do have love for the agricultural commodities. Coffee has been rising in price since late last year when local coffee prices in Brazil started rise. At the time futures prices were falling. This year reports out of South America sight a beetle, that is devouring coffee plants, it is most certain that Arabica will show a shortage....
Pro Long (Chart): - RSI and Stochastik created buy signal - Orange support line Pro Long (Physical): - ICE warehouse stocks new lows - spreads tightening ever so slightly Contra (Chart): - still in middle to upper end of trend channel - room to go in terms of lower Bollinger band - long term trend still down - risk/reward for long position not there IMHO I...
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...
Short term targets on the downside: - 9 day MA around 129 - middle BBand at around 125.50 - Fib retracements
RunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016 Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76...
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.
Potential support at 110 and 100. Looking for set up on lower time frame to get long.
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...
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...
Potential Bearish Crab for future reference. Short: 1.49 SL: 1.57 Target: 1.29
Looking to sell @ point C around 0.7400 with respect to an inside gartley. HOWEVER, there is absolutely no reference to previous structure which is fundamental in legitimating a potential reversal zone and as such I shall wait for double-top. Thanks
Coffee still in Bearish trend in weekly and monthly basis. So its time to take this action to make some profit. I'm watching coffee index and its almost 100% correlated with other coffee futures.
Pro bullish: - Slight bullish divergence on RSI and Stochastik - market running into support at lower end of trend channel - lower Bband at lows - Spreads steady Pro neutral: - nothing clear cut yet in terms of buy signal This is a good risk reward IMHO
Reaching oversold territory based on RSI, Stoch and running into support on lower BB. Market overall sideways and lower, BUT seasonally August is a strong month Buy U15 at 118.00 --> target 130, Stop 112.00 exit at target or before First Notice Day