Best Thread COFFEE - The next big bull?

[gene]

Well, the market didn't show any further weakness today, so I'm still hangin' in there...

 

[Vincenzo]

Major Resistance 131

Supports : 106 95 86
Resistances : 131 150 162

 

[gene]

If Sep reaches somewhere around 115.00 to 116.00 tomorrow, buying more would be tempting...and there are other markets to watch, as well: Cotton and Sugar are looking good to buy.

 

[Vincenzo]

areful with big resistance at 9,35 on sugar .

I do not succed to convince myself to buy coffee for the moment. I will wait for the moment
Bye

 

[jklondon]

ouch! technically due for a bounce though if you look at the stochastics...

 

[gene]

"Ouch" is not the correct word, but the correct words are not allowed here.

 

[gene]

The July contract has reached and broken the lower support line I drew a while back
( http://www.trade2win.com/boards/showpost.php?p=184338&postcount=248 ), but September has not reached the corresponding support line on it's chart.

The weekly and monthly charts show a little more downside potential.

 

[gene]

Tuesday 6/28/05

 

[The Baptist]

Tuesday 6/28/05

Commercials are entering into coffee market and its also coming out of seasonal downcycle. I like coffee I think you on to something.

Frustrated as i am spreadbetting and CMC and IG only have Rob coffee which seems to have little correlation anyone explain the difference, I presume we talking about a different bean grown elsewhere?

Buy soon if you can is my view.

 

[oatman]

Do you mean Robusta (London) and Arabica (NY)?
http://www.ico.org/botanical.asp

 

[The Baptist]

Do you mean Robusta (London) and Arabica (NY)?
http://www.ico.org/botanical.asp

exactly the one, its arabica which has interesting technicals. Good link very interesting time for that botancy degree, need a few expresso's to get thru that!

 

[jonnyy40]

Yes I've been following this thread and wonder why IB only trade Robusta.Especially when my data feed gives Arabica (exchange CSCE)!It's $375 per cent?

 

[DaveT]

The Baptist -

You seem to say that IG Index only do Robusta Coffee. :?:


This is not the case - they will trade NY Arabica or London Robusta.

 

[The Baptist]

The Baptist -

You seem to say that IG Index only do Robusta Coffee. :?:


This is not the case - they will trade NY Arabica or London Robusta.

Quite right you are. I primarly use CMC who only do Rob, I rarely use IG as the spreads are always much bigger, but early I made it seem that IG do'nt do Arab, they do.

 

[rytrade]

IB doesnt trade NY coffee as it is traded in the pit. IB only trades those markets which are electronic. If you are interested in trading NY coffee, let me know and I will set you up w/a trading platform that interacts directly with a floor broker on the exchange. The far far majority of firms/platforms cannot give you this.

 

[oatman]

IB doesnt trade NY coffee as it is traded in the pit. IB only trades those markets which are electronic. If you are interested in trading NY coffee, let me know and I will set you up w/a trading platform that interacts directly with a floor broker on the exchange. The far far majority of firms/platforms cannot give you this.

http://www.manfinancialinc.com/onlineProducts.html

 

[DaveT]

Sept Coffee possible BUY signal:

1) Double Bottom + Bullish Divergence

2) MACD Crossover + Slow Stochastic crossing above 20.

3) Sept Weekly Chart shows Key reversal (if market holds to the close)

4) Seasonal Charts bottoming in July.



Target : Downtrend Resistance at around 12400

 

[The Baptist]

IB doesnt trade NY coffee as it is traded in the pit. IB only trades those markets which are electronic. If you are interested in trading NY coffee, let me know and I will set you up w/a trading platform that interacts directly with a floor broker on the exchange. The far far majority of firms/platforms cannot give you this.

Thank you for the platform offer, my interest is only occasional for technical reasons, I assume their is a cost associated with this or is it just a commitment to use a specific broker?

 

[The Baptist]

Sept Coffee possible BUY signal:

1) Double Bottom + Bullish Divergence

2) MACD Crossover + Slow Stochastic crossing above 20.

3) Sept Weekly Chart shows Key reversal (if market holds to the close)

4) Seasonal Charts bottoming in July.



Target : Downtrend Resistance at around 12400

Nice chart, I think it is setting up nicely!

 

[Pippppin]

Is coffee bubbling?

The attached chart shows the Sep.05 contract has made more than a 50% retracement from the high.

However, the downward convergence recently (red triangle) could indicate further falls are in store, especially since the continuous chart shows a less than 50% retracement between the low in Nov.01 and the high in Mar.05