March ICE Coffee Futures a Selling Opportunity on Fresh Price Weakness
See on the daily bar chart for March coffee futures that prices are presently seeing a corrective bounce but remain in a downtrend. A move in prices below solid chart support at the November low of 1.8540 would give the bears fresh downside momentum and it would also become a selling opportunity. The downside price objective would be 1.6500 or below. Technical resistance, for which to place a protective buy stop just above, is located at $1.9500.
