Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
The OI continues to flatline indicating shorts buying from new shorts if we believe that systems are short covering. There seems to have been some new buying present as well yesterday. The implications should be bullish as new selling by specs is taking place. The assertion by kafenitsa that a fund or funds, or any sector, want the market down is not to be dismissed. But it’s too soon to for end of year games, imo. Today we see weakness as the market is heading into a support area based on depth of market. Over 600 lots are wanted down to 120.50, a penny lower from current prices. Some added support is present in the forwards as well. Jan arb is 43.34 indicating a quiet market. The OI in RC changed dramatically yesterday. USDBRL is 3.3076 +.0100.