December ICE Coffee Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for December ICE coffee futures that prices have backed down from the July spike high and have been trending lower the past couple weeks. The bulls appear to have spent their energy in July. A move below chart support at last Friday’s low of $1.8670 would become a selling opportunity. The downside price objective would be $1.5500 or below. Technical resistance, for which to place a protective buy stop just above, is located at $2.0000.
