Coffee Tactical Low in New Bull CycleI am bullish Coffee since a series of bullish momentum divergences started to develop in February, March and April. As with other commodities, I am convinced that the early 2016 lows were important cyclical lows. I am therefore bullish Coffee long-term. The weakening US Dollar should further support the entire commodities complex.
The latest correction brought the futures back to an important breakout level, which was succesfully tested. The next swing in coffee futures should target 169/170, although it may fade at 160. An interesting trade, nevertheless.
ETF Idea in New York: JO
ETF Idea in London: 3CFL ($-listed, 3x times leverage, risky)
Best,
