Long

JO: Gigantic double bottom in Coffee

Updated

This can be a long term bottom for Coffee. I will be entering longs on Monday.
The monthly chart indicates this could be a gigantic double bottom at play.
CoT data is interesting, with large speculators going flat...
I expect the low printed here to hold, if we break this week's high it'll trigger a rally.

Good luck,

Ivan Labrie.

Note

Good progress here.

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No idea why the chart background is red, but hey, it looks quite strong.

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Acting well, I moved my stop closer to the action here, and adding gradually for a few more days.

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The weekly sellers have lost steam, daily charts looks like an impending rally is coiling for now.

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