Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
KC reacting as many of us thought it "might" based on the latest COT report. WE now are within a few ticks of 11980, which would represent 5 cents below our highest settlement. One theory we have maintained is that certain systems will reverse based on the this per-requisite. I will add that IMO, certain systems have been selling all morning.
The market gave us pause late last week and hinted that a short term top was possibly in place. We than saw a less then enthusiastic COT which I think is contributing to today's weakness. Add to that, the strong $ and soft REAL.
US$/BRl : 3.5469 , +0.0187 (+0.53%).