Coffee Traders' Forum - A Discussion about Coffee Futures Trading


Coffee Traders Discussion Forum

Coffee Traders' Forum

Market *PIC*

This morning we see bouts of buying as the market continues to show an upward bias. Yesterday the market followed the technical script and was rejected by Nagual's then 5 hour resistance point of 141.50. For the rest of the day what seems to have occurred was shorts hitting the market but even then fib numbers were observed. By the end of the day short covering and continued systems buying brought prices back to unchanged. My technical friends are saying now that the market is becoming fragile. We'll see if 140.00 becomes a floor or a ceiling but for now anyway the market is steady. Our technical friends in the forum will provide guidance. Spreads remain inactive in kc as SepDec vacillates between -3.55 bid and offered. The more funds cover, the less will the impact be on the spread on the upside. And what of those that invested in the spread for weather considerations? These factors plus option expiration next Friday and the ongoing roll may provide opportunities. The Sep arb is 43.52 and the NovJan spread is steady at 26 bid premium. BRL is 3.1131, COP is 2954.00 -3.00, and every major currency trading higher against the $. The € is 1.19. Bond futures are holding unch to slightly lower and metals are steady as are equities. Oil is down and all the softs are slightly higher to higher with cotton leading the way.

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Market *PIC*
KC Volatility