Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Buying has been present throughout the morning and has absorbed equally good selling. The depth of market is 2:3 favoring the sell side. As we saw in the latest OI, buyers are covering and sellers are liquidating. The weakness present throughout the day yesterday disappeared as day traders seemed to have covered. Systems and other shorts provided continuous support. It is likely that this pattern will continue unless the sellers become overbearing as they have so many times with other steady markets. With crude over 60.00 and gold about to penetrate 1300.00 it invites the possibility of commodities beginning to sprout and being considered as portfolio assets, a bold assertion admittedly. The last day of the year, however, may or may not bring volatility in the markets including in spreads. Some houses have shut down for the year however. RC is lagging a bit with the arb at 45.74. USDBRL is unchanged at 3.3127 and the COP closed yesterday at 2985.78 +11.00. All major currencies are up again against the $. Bond futures have been generally flat for the last two sessions. Gold is steady, as is platinum, but palladium, silver and copper are lower. Equities are higher. NG and HO are higher. Softs are unchanged to slightly lower.