Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Thanks guys. Very heavy market. Grinding down as we have no shortage of resting bids/icebergs. To answer JK, I would think the systems are in full sell mode. We saw OI jump by 2100 yesterday. As we have seen over and over, commercial longs likely again piling on buys down here. Other sectors on the non-commercial side have also been on the buy side at the lower end of the trading range. Whether or not they are again active, IMO, is hard to tell right now.
Below the 12495 level, my next level of support is 12420. Current low, 12485.