For all you coffee lovers, this is developing for a nice trade.
I'm not going to over-complicate it with fundamentals, but because this commodity likes to be cyclical, we could see some nice move upwards in the second half of the year. But, of course, this is just speculation, as different political, economical and natural elements could change the game along the...
• Entry at completion of Batt pattern @127.27
• Double bottom formation at batt completion price further supports bullish signal.
• Fundamentals support long term bullish position due to draught concerns, similar to 2016:
www.bloomberg.com
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.
