Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
We again see a sharp drop in the OI indicating short covering, likely funds, and if we continue with the dynamics as illustrated in the COT report we can say that the selling consists of every long category especially commercials. If the market continues to be propelled by systems buying, at some point they will turn long. As much as I'd like to see the market higher, it would be more convincing if longs increased there positions rather than liquidate. Much of the selling taking place is option related however. The market has definitely entered roll time as we see by the Sep OI change which may provide opportunities or havoc for daytraders. BRL is 3.1213 -.0053.