Market Overview

Coffee - Fresh buy signal

Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.


Coffee futures rallied today (2/28) approaching recent highs put in last week as the U.S. Dollar Index declined.

Today's rally for May coffee gives me a buy signal on the daily chart. Today's buy signal comes after some seemingly nice consolidation last week and the trend is up for coffee on the weekly and monthly charts.

The March U.S. Dollar Index issued a sell signal today on the daily chart. A weak dollar tends to support commodity prices.

Anticipation of tight short-term supplies may support coffee prices further at least in the near future.

To review what I consider a "buy signal" watch Larry Baer's Traditional Trending Strategy Video: http://www.youtube.com/watch?v=iro7sFQRG5k

To view my thoughts on other markets subscribe (FREE) to Larry Baer's Charts and Set-ups Newsletter: http://www.zaner.com/3.0/lbaer2.asp

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Call me for details and trade set-ups at (312) 277-0112

or toll free at 888-281-4161

or email: LBAER@zaner.com

Open an account with Larry Baer at Zaner Group: http://www.zaner.com/3.0/account/account.asp?rid=LBAER


Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.

Posted-In: Long Ideas Futures Technicals Commodities Options Intraday Update Markets Movers

 

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