Have Coffee Prices Double Bottomed?

02 Apr in Blog, coffee futures, commodity broker, commodity trading, futures broker, futures trading, Michael Seery, option broker, Seery Futures LLC

Coffee Futures---  Coffee futures today rallied with all the other commodities sectors as well rising 375 points in the May contract to finish at 186.20 a pound with a possible double bottom formed in the last week. Coffee futures have rallied from a low of 175 a pound which happened twice in the same week only to retest three weeks highs at 187 a pound which could happen in tomorrow's trading session. If the in my opinion if the rest the agricultural sectors are going to continue to rally I believe coffee prices will join the bull markets and at these levels coffee could be an interesting play to the upside. Remember coffee prices have been in a big bear market over the course of the last six months trading from around 240 a pound all the way down to last week’s low of 175 a pound as traders eye a larger than expected coffee harvest this spring, however coffee trees are entering frost season in the month of May and that could also put a price premium in the short term. If you are looking for a futures broker please contact Michael Seery at 800 – 615 – 7649 and he will be more than happy to help you with your trading.

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