Put a fork in it! - All the way to 85.00!!
The Bull Market is strong, but many stocks are extended and sentiment seems to be extremely bullish. I am cautious with new buys until the sentiment cools off a little. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 28 total stocks on this list. Many of these have IPO'd in the last few years and still...
The COT report is bearish, the seasonal tendency is to the downside. We have a divergence in the 4h chart. So, where do we sell? I think breaking below Thursday's low or formation of lower high would be good entries. 120 has been an important level for Coffee. It has to be tested again and it is our swing target.
Observing price action in ranges seems to reduce asymmetry in this monster snapback we have experienced. Maybe a compelling argument for the next leg up. The outer KC converging onto pre-crash ATHs could help accelerate the melt-up; however, I would be looking to moderately sell into further strength, especially with an election coming up we will likely be coming...
I come up with trades that really save people time off the screens and have great risk to reward parameters using Futures Spread Trades, and Span Margin brokers to get in cheap as possible and maximize my per capital usage. This idea is on a rock bottom price we can call a supply area we have visited in the past. Follow and see. Thanks
Study of Coffee. An old nemesis, missing the bottom a few times. I believe we have to look for a bottoming pattern right here or test some lows (bottom of bear flag). Long term I believe it will go up a lot again, but considering current market conditions, lower support may be the thing to look for.
After the strong bullish speculation on sugar finally ended, with the price is returning to more realistic values, my attention shifted to coffee. Coffee, which was also heavily speculated upwards, reaching an absurd price of $ 140, has returned to the $ 100 area and then rebounded. At the end of the bounce, as you can see from the chart below, a distribution...
looking for a bottom from here or a little bit lower, ideally 98.30 would hold ** Just an idea, NOT a forecast
Testing a script with KC and BB, color gray and blue is a squeeze indicator. PS : My position has not changed, still long since 74++ with a target at 8200 and 8600
TP hit on the previous short as Coffee C moved below the previous Lower Low at 112.00. The price is still on a long term 1W Channel Down (RSI = 41.160, MACD = -3.390, Highs/Lows = -2.5643, B/BP = -9.5600) with 1D now in need of printing a Lower High (Williams = -45.358, Highs/Lows = 1.2521) between 114 and 117.50. The next TP for our KCU8 short is 100.000.
Clear Channel Down on 1D within a greater bearish channel on the Monthly chart (RSI = 42.309, MACD = -6.170, B/BP = -9.6160). Having made a Lower High at 121.40, it is currently on the best spot for a medium term short to at least the previous Lower Low at 112.60.
This can be a long term bottom for Coffee. I will be entering longs on Monday. The monthly chart indicates this could be a gigantic double bottom at play. CoT data is interesting, with large speculators going flat... I expect the low printed here to hold, if we break this week's high it'll trigger a rally. Good luck, Ivan Labrie.
I see a bullish divergence on the daily chart for coffee. The MFI has made higher lows while price has made lower lows. I believe coffee is headed higher to at least the 50% level of 1.4585 (if not high 140's).
.... doubt it will happen this year. last year we had three severe frost scare days/weekend. IMHO this market is where it is merely because of cautious buyers ahead of the season. I see rangebound through July and if no frost happens more downward potential. Technically speaking, the bull market appears to be over.