Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Very good volume in the market to start the year. After the initial rally, we are in a consolidation phase. Dwindling OI, in both H and total,as the market gets ready for its next move.
Will it be a continuation higher, or further consolidation and choppy trade?? The re-balance will kick in, and I would think we have a good chance to continue higher. Long tails on the daily chart over the last 2 days suggest downside pushes have been met with buying and short lived. Spreads are on the steady side. Awaiting the first COT report for the new year.
Intra day (from low to high) :
Again, the low 12600's IMO is a very pivotal level. The reaction if in fact we again re-test those lows will be critical.
As of now, 99 H TAS are offered. Expect an increase in TAS activity as the re-balance kicks in.