December ICE coffee futures a selling opportunity on more price weakness. See on the daily bar chart for December coffee futures that prices are in a steep swoon as the bears have quickly gained downside technical momentum. A move below chart support at Tuesday’s low of $1.9500 would give the bears better downside momentum and it would also become a selling opportunity. The downside price objective would be $1.7500 or below. Technical resistance, for which to place a protective buy stop just above, is located at $2.0500.
