March ICE Coffee Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for March coffee futures that price action has been choppy and sideways recently. A move below solid chart support at the November low of 1.8540 would give the bears fresh downside momentum, to suggest a price downtrend in the near term. Such 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.
