December ICE Coffee Another Selling Opportunity on More Price Weakness
See on the daily bar chart for December ICE coffee futures that prices this week popped higher but the gains were quickly erased, as the bears continue to have the overall near-term technical advantage. A move in prices below solid chart support at this month’s low of 1.7640 would give the bears better downside momentum and it would also become another selling opportunity. The downside price objective would be 1.5750 or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.8500.
