Consolidating after a long run. Bullish sentiment is still strong ahead
Taking a page from Lumber futures back in May, coffee is the latest commodity to party like it's tech circa '99. I don't trade the "softs," but I did find a coffee ETN symbol: JO and may look to fade the caffeine rush when the extreme sell condition cools off. Hot coffee! DOn't get burned. :)
... and nothing more. Coffee remains a pure currency play on the USD/Real. - And with the Central Bank of Brazil hiking rates faster than any other central bank, this is mostly a one-way trade going into the seasonal peak. Fundamentally, there is no evidence (0, zilch, nada) that there would be any supply issues at present - despite popular misconceptions to the...
KC=F has been in a vicious bear market just like many agricultural commodities. There is a down trend line since May, 2011. It is getting close to the apex of the symmetrical triangle as well. If it breaks up, it will be pretty bullish and it may be the start of new bull market in Coffee.
Not much data on this company because it has only been publically traded for 3 days but this company will be huge. They make disposable coffee pods that only take 35 days to decompose! This is a huge play compared to current plastic coffee pods. Betting on the sustainability!
Coffee after a 3 week structure and battle seems to be making a break towards the Fib 0.382. The higher time frames still point down. The ADX indicator shows uptrend but no strength yet (it usually has a delay on that). The COT of Sep 29 shows a lot of long orders closed (-3745) and more short open (+3065) with net long positions to 54931 compared to 61741 of...
Coffee reached our target at 120. However, there is still no signal the decline is done and we want to follow the trend. The support is broken and it makes me believe there is a big chance we can see a retest of important support/resistance near 104. So, if you still hold your shorts, consider adding trailing stops and let the good time roll.
THE STORY OF THE COFFEE IS FACIANATING. A HUGE VOLUME OF BUYERS ARE IN THE MARKET NO SIGNE OF DOWN EFFECT.
Coffee reached an important zone of confluence: 1. We have a strong structure resistance on the left 2. Completed harmonic abcd pattern 3. Fib.extension and retracement confluence. 4. Bearish sentiment from the beginning of the year The price may drop at least to 114.0 level. Please, support the idea with like! thank you!
Short bias included with the lovely world of seasonality. Enjoy the trade guys and gals. This is definitely a 2-4 month trade. Put on a spread for minor span margin costs. May need to have the proper broker for this.
Analisis de movimiento mes de Diciembre al 20 de Diciembre.