FreeWind69
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Spazio di prova, 2° capitolo
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bruss
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gilles1
Forumer storico
Have Coffee And Sugar Prices Finally Bottomed
Wednesday, May 08, 2013
by Michael Seery of Seery Futures
Coffee Futures-- Coffee futures in New York traded higher for the 5th consecutive trading session right near 7 week highs currently trading at 143.25 a pound looking to break 7 week highs which stands at 145 as bullishness in many commodities is starting to return. The U.S dollar is sharply lower once again right near 8 week lows which is propping up some of the commodity markets this afternoon with a possible bottom finally being formed in coffee. Volatility in coffee has increased with 1 week down 800 points and last week up 800 points and that usually signals a bottom when you get extreme choppiness like were getting right now as we head into Brazil's frost season. If you look at the coffee chart back in 1994 coffee had a double freeze in Brazil and sent prices from around $.70 a pound to 2.75 a pound in a matter of a 1 1/2 and I'm not saying that's going to happen again but there's always the possibility of a frost occurring and if it does it will send prices sharply higher. Coffee is trading above its 20 day moving average but below its 100 day moving average which stands at 146.00 a pound and I think if you cross that level you will see some fund buying pushing prices into the 150s in the near-term. The chart structure in coffee is outstanding at this point in time allowing you to place a stop loss therefore minimizing your risk in case the trend does change. TREND: HIGHER -CHART STRUCTURE: EXCELLENT
Wednesday, May 08, 2013
by Michael Seery of Seery Futures
Coffee Futures-- Coffee futures in New York traded higher for the 5th consecutive trading session right near 7 week highs currently trading at 143.25 a pound looking to break 7 week highs which stands at 145 as bullishness in many commodities is starting to return. The U.S dollar is sharply lower once again right near 8 week lows which is propping up some of the commodity markets this afternoon with a possible bottom finally being formed in coffee. Volatility in coffee has increased with 1 week down 800 points and last week up 800 points and that usually signals a bottom when you get extreme choppiness like were getting right now as we head into Brazil's frost season. If you look at the coffee chart back in 1994 coffee had a double freeze in Brazil and sent prices from around $.70 a pound to 2.75 a pound in a matter of a 1 1/2 and I'm not saying that's going to happen again but there's always the possibility of a frost occurring and if it does it will send prices sharply higher. Coffee is trading above its 20 day moving average but below its 100 day moving average which stands at 146.00 a pound and I think if you cross that level you will see some fund buying pushing prices into the 150s in the near-term. The chart structure in coffee is outstanding at this point in time allowing you to place a stop loss therefore minimizing your risk in case the trend does change. TREND: HIGHER -CHART STRUCTURE: EXCELLENT
