March ICE Coffee Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for March arabica coffee futures that prices are in a solid downtrend and have recently hit a six-month low. The bears are in firm technical control, to suggest more downside price pressure to come. A move below chart support at last week’s low of 1.7115 would become a selling opportunity. The downside price objective would be 1.5000, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.8000.
