KC is hitting some fibs and speculators have been getting heavily long over the past 3 weeks as per COT data. PMARP showing a good sign of over exuberance. From what I can tell the consensus on it is that there's a big shortage and it cant go down, which is common across a few other commodities at the moment (CL etc). Consensus is rarely correct. Much of the...
A good move up, consolidation, and another move up on good volume. I think I'll go long on Monday. I'm glad I'm a tea-drinker.
For my coffee drinkers - Both Arabica and Robusta had a strong start to the year. However, seasonally a bearish phase starts from 22 Feb to 31 Mar. The technical price target was also reached yesterday. In the last 17 years we can observe a negative trend between 22 Feb to 1 Mar. Only in 5 out of 17 years did the coffee price rise during this period. On average,...
Hello Traders Coffee has broken the resistance level of 173.39 (D) and it looks like a trend continuation to the upside will continue under the 100EMA. Price can continue to rise and reach the 210.00 area. I am currently long. Anyone else trading coffee? Happy trading Samantha.
View On Coffee (23 Dec 2022) I am seeing a possible bottoming in coffee. It is hard to find a single bottoming point but I reckon the price of coffee will not go lower than $150. In 1Q2023, you can slowly build coffee postings and possible extract the great profit of it. It shall easily see $190 or even $210 DYODD, all the best and read the disclaimer too....
Can see a case here that we have potentially made a bottom and completed the ABC correction.
Coffee price provided more negative closings by consolidating below 178.00 resistance, to start reacting to the major indicators by declining towards 159.40, expecting to continue forming negative crawl and attempt to touch 154.00, while breaking this obstacle will extend trades towards 147.10 to face the historical support that appears on the chart, assuring the...
The chart does not look great technically, with momentum to the downside, we also have over-supply on the market, perhaps due to the bull whip effect. Deflation can be real, just not all industries all at once perhaps. NFA, DYOR
In anticipation of the recession, coffe begins to lose value as smart money is moved from these commodities to safer places. Meanwhile, an upward breakout was attempted on the descending pattern, but the deviation was apparently a fake-out, which means that we will soon have a retest of the support and if it is broken, we can go on short until the next . support.
Cheaper futures perhaps. I see potential to retest the 200ma especially if we can hold relative strength as is or lower. Not financial advice.
Hello, Coffee is coming close to the top. Good luck