September Coffee Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for September coffee futures that prices are in a two-month-old downtrend and last week hit a four-month low. The bears are in near-term technical command. A move below solid chart support at this week’s low of 1.6655 would become a selling opportunity. The downside price objective would be 1.3500, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.8000.
