This is more a waiting game for the USDBRL to finally make a correction lower in order for KC to rally.
BUY signals from a week ago have not been confirmed, yet we still sit on support in terms of the long term trend channel and the lower BB at 117.
Also, this is a Z15 contract low, which could lend some support.
Better risk reward being long at these levels IMHO
I would have liked to see a divergence in RSI, Stochastik vs price, but it didn't happen this time; regardless a decent buy signal for coffee.
Future spreads have been steady and unch in the recent days, suggesting a low is in place.
USDBRL is a key indicator, if it continues to fall after hitting the triangle breakout target there might be more upside for KC
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
KC put in its strongest weekly performance in about a month, reinforcing the line in the sand at the 180 horizontal support zone as seen in the attached chart. The 180 level also coincides with the uptrend support line connecting the low earlier in the week with the January 2014 low. Based on the renewed upward momentum these last few days, and the apparent...
After yesterday's late session rally, KC sits increasingly well positioned for a resumption of its uptrend. In my daily chart, you can see KC sitting at an uptrend support line (constituting the lower line of an ascending triangle) that began in Jan 2014. My next key target is ascending triangle resistance, in the 207-213 zone. Crucially, the weekly and daily...
KC broke tested for the fourth time the support at current level and broke, if there's follow through, it's a good short. Historically, July should be the seasonal low. COT report- commercial is not hedging at this point.
Upper the green line the great resitance is the red line. IF the price break down the green line, u can make a good down trade, and put the STOP at the horizontal green line or maybe 0.5 points above....
