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 three-month-old downtrend and last week hit a five-month low. The bears are in firm near-term technical control. A move in prices below solid chart support at 1.7000 would become a selling opportunity. The downside price objective would be 1.4000 or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.8500.
