The bear market in US coffee futures does not stop even at the low end of a parallel price channel on the daily chart. However, latecomers beware of a bear trap. Disclaimer> This post is informational only. This post is not a trading or investment advice! Financial markets are inherently risky. Manage your position size […]
KC technically at a decade high in nominal terms.
KC still holding on το the ascending triangle breakout but a possible retracement to support @ 215 will be very revealing about this market’s strength.
Coffee futures (KC) broke out of a bullish ascending triangle, confirming their recent uptrend.
KC a tad closer to the three-month old ascending triangle apex.
Coffee futures on the edge of the 3-month ascending triangle.
KC(Z21) failed on the first attempt to make a 7-year high.
US coffee made a bottom one year ago and has been in a different universe than most risk assets. However, the weekly fibonacci resistance levels seem to be a bit too much for now with the last week being a bearish “shooting star”. Manage your risk when trading!