Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
I second Tango's words. Record reading were in early April, right now situation has improved a bit. At least Managed Money are not that bearish anymore.
My personal interpretation is that metals (both GC and SI due to high correlation) are in limbo now. On one hand some geopolitical tensions reduced their level of danger. I am talking of North Korea and trade wars. But they aren't off the table. On the other hand overall situation in Middle East is far from being calm. Plus, we have FED and main indicators (inflation etc) that can kick hard anytime.
Hard to tell what is going to be next but I'd say in a short perspective situation is somewhat bullish. However, during last 4 weeks managed money added a great deal both bullish and bearish positions, so again, it tells me that we are in limbo.