Discussion in 'Commodity Futures' started by Master Pu, May 2, 2021.

  1. Master Pu

    Master Pu

    I see $200 as the likely next target. Will coffee follow suit of other commodities? It's monthly chart BTW.
    Cannon_Trading, piezoe and Tradex like this.
  2. maxinger


    it seems like supply vs demand has been rather stable,
    no major plant disease, weather ok and hence the price has been rather stable.

    coffee is very different from grain futures where the demand is > supply since
    Aug 2020.
  3. Master Pu

    Master Pu

    I doubt it's any different at the moment, money is flowing into commodities as hedge against inflation, FED can't stop printing.
  4. Cabin111


    Whenever my wife or I have $2-4,000. to invest in our ROTH IRAs or our trust, we would buy 100 shares of JO (coffee) or SLV (silver) futures. We would then to a covered call just out of the money for as long as possible. Most of these get called away. We have a hard time finding places to "park" money for a few months or a year.

    JO has been good to us over the years. Even if it drops 10-20%, we can do another covered call when the old one expires. Boring income without doing a big play...
  5. JSOP


    Wait until they come up with the finding that coffee can kill the covid-19 virus and any of its mutations. LOL
    Master Pu likes this.
  6. Tradex


    We do see 2 higher highs and 2 higher lows on your chart, and MACD is turning up, so maybe it is the beginning of a new trend.

    Or it could be a simple pullback and in that case watch out.
    Master Pu likes this.
  7. Master Pu

    Master Pu

    This is a classic trend reversal formation plus a strong April close above key averages. When you consider what's been happening to majority of other commodities, trend reversal is more likely outcome.
    piezoe likes this.
  8. Tradex


    It could be my friend, and those two Three White Soldiers formations we see on your chart (a very bullish candlestick pattern indeed) are very convincing.

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  9. Master Pu

    Master Pu

    Looking for an entry now.
  10. Master Pu

    Master Pu