Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Thanks Tango. As always, great start to the morning.
As you mentioned, there has been persistent NEGATIVE divergence between price and some of the technical indicators -- MACD, Sstochs, Momentum.
Is this early weakness the start of a better correction, one that IMO is warranted at this point? We shall see. Systems will likely have some buying as 8-8:30am rolls around. At what point does this buying ease and give way ?? Also, as you mentioned , the 1.40 strike becomes important with U7 options expiring on Friday. As I post, GC is set to make a fresh high for the day as the N. Korean situation is in play , and rightfully so. Scary situation, IMO, and one that seems to lack any real good options. Equities are impacted as well as they are set to open the day under pressure.
Below is a simple chart of KC: