Coffee … Moving Into The Buy Zone!

Coffee C futures (symbol: KC) are currently in consolidation mode off the $2.1570/lb high of 23Apr14. Per our previous post of 22Apr14, which can be found at http://wp.me/p3SbOG-cZ, we confirmed Coffee had reversed trend, initiating a new and powerful bullish movement. All indications since that post continue to confirm the bullish view.

Strong support lies in the $1.66 and $1.44/lb price levels. Upon completion of this consolidation phase, likely within next 6 to 8 weeks, we expect Coffee futures to exhibit impulsive price activity to the upside.

Coffee C Chart, 02Jun14

Murphy & Co’s Coffee model is currently long.  To learn more about Murphy & Co’s position models, visit http://murphycofutures.com/position-models/.

Posted in Ag/Softs, Coffee C, Uncategorized Tagged with: , , ,

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