Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The short term top was actually a few days ahead ( Aug 1st or July 31st ).
No other cross in sight, the correction could even be this small movement.
I think the stockmarket volatility is originating it all, so it should last
for a while.
At 47.00/47.50 oil should find its logical support.
All in all, a mostly lateral movement seems the most
likely outcome, provided there is a constant robust draw on US reserves.
I was also seeing well about shale oil producers that are
falling like rocks.
I like Carrizo,instead, that I analyzed yesterday, even if their debt
is too high ( CHK style ) because it was built on oil-55 as a given.
OPEC is more winning than losing the battle, believe me.
Carrizo starts cutting investments ...