Robusta hit the target after 2 years at $28.00I don't know about you but I prefer Arabica Coffee to Robusta.
It's sweeter, it's fuller and it's not that bitter.
Anyways, I sent out this trade idea in September 2021!
The price broke above the Falling Wedge and there were strong signs of upside.
This trade idea was a slow pace and anyone who held onto this trade, most likely would have made very little money due to the daily interest expense charges.
It really does add up. And unfortunately, we traders can't treat these markets like medium to long term investors who deal with derivatives.
Anyways, the target hit at $28.00 and the price looks to be consolidating here before further upside. Hopefully, a new pattern forms and we can get wired back into the trade.
INTERESTING FACTS ABOUT THE ROBUSTA COFFEE COMMODITY
Second Most Traded Coffee:
Robusta is the second most traded type of coffee, following Arabica, in terms of global market demand and trade activity.
Price Determination:
Robusta coffee prices are influenced by factors such as weather conditions, crop yields, global supply and demand dynamics, currency exchange rates, and geopolitical events.
Use in Blends:
Robusta coffee is often used in coffee blends, alongside Arabica, to provide a stronger and more full-bodied flavor profile.
Coffee Exporter Revenue:
Robusta coffee exports contribute to the revenue of major coffee-producing countries such as Vietnam, Brazil, Indonesia, and Uganda, driving economic activity and foreign exchange earnings.
