Moose666666
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Thanks DaveT.................I'll see you there when it's back up.
Hope your doing alright today.
Hope your doing alright today.
DaveT said:Coffee could be techncially and fundamentally setting up for a reversal in trend.
Fundamental factors include:
1) Recent Central American damage to crops - Mexico/El Salvador/Honduras/Guatamala - due to Hurricane Stan and associated flooding and landslides.
2) NYBOT certified stocks beginning to drop ahead of the Winter Demnand Season.
3) Seasonal Chart turn UP from this time.
4) Still unresolved New orleans situation.
5) Brazil Exports well down on last year at 1.57m bags
Techncally, the Dec chart looks to have formed a solid bottom - could be seen as a double bottom - and a minor uptrending channel has formed since.
There are various factors I look for which are coming together.
1) A 'Volatility Squeeze on the Daily (and all intraday) charts - ie Bollinger Bands tight, espcially when plotted with the Keltner Channel.
2) Recent Spread Divergence.
3) Weekly (cont DEC) chart showing recent key reversal followed by higher high/low bar.
4) Commericals now NET LONG, Funds NET SHORT.
I am LONG from 9440 Basis DEC. Will add on breakout of the downtrend line.
Target (on breaking the downtrend line) = 11300-11500 Resistacne (Depth of downtrend added to probable breakout point)
marketwavez said:BGOLD
J ust wondering ........................................
I am new to this forum and was wondering if there is any other futures market you may be interted in seeing my Elliott-Wave count in.....
Coffee is in pLay now and its all about moving the protective stop up as prices advance...