Coffee Futures—Coffee futures in the May contract is currently trading higher by 185 points at 109.25 as I had been recommending a bullish position from around the 112.00 level as it is time to exit and take the small loss as there is sheer panic in the commodity markets as I don’t want to be bullish any sector at this time.
There is a lot of red on my screen including the stock market which is down nearly 2,000 points today as a global slowdown could be at hand so move on. Volatility in coffee is high just like the volatility in all commodity sectors is exceptionally high as that situation is not going to change as we were a little lucky today that coffee prices were higher so take advantage of the situation.
CHART STRUCTURE: POOR
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