Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Yesterday’s action likely represents systems short covering and long liquidation, mostly commercials. RC also reflects managed money, and othe specs, covering as longs liquidate. This is what we have been seeing in past rallies as well. It is certainly a hurdle to jump over to satisfy the longs that are hoping to get out but not an impossible one. Generally speaking, the entire commodity complex is steadying. Maybe it is not a coincidence. Today and tomorrow however it appears that KC may be anyone’s game as window dressers are sharpening their tools possibly. After a promising start the market continues to drift. Players are absent and options are quiet. USDBRL is the same as earlier at 3.3050 -.0100. All markets seem to have the same composure as reported earlier.