Coffee Futures—Coffee futures in the March contract settled slightly higher for the trading session ending up 20 points at 12110 a pound breaking a 3 day losing streak as prices have now hit a 3 week low topping-out around the 129 level in last week’s trade.
At the current time I’m not involved as I was engaged in a bullish position over a month ago getting stopped out as the trade really has gone nowhere, but I still believe if you’re a long-term investor prices are incredibly cheap in my opinion and if you take a look at the agricultural sector especially anything from the country of Brazil prices are accelerating quickly to the upside and I think eventually this will happen to this commodity as this sleeping giant will wake up as the downside is extremely limited.
CHART STRUCTURE: SOLID
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