Coffee Futures Analysis- 07Aug2020

In our post on 23rd June 2020, we shared this analysis on our website:

“The above chart is Coffee Futures (KCN20) daily chart, which is showing a strong consolidation taking places currently between 90-100 levels, and above 100, we will see a rally towards 120. Coffee Traders should stay long above 100 for Target 120-125. The rally above 100 towards 120-125 is likely to be very rapid, and it will not much chance to Traders who are not long from 100 level.”

In the last 6 weeks, the Coffee futures have done exactly like that, racing to 125 once they were above 100. It was a classic breakout. They crossed 100, came back to test the support at 100, and then  raced up to 120-125, which were our target prices.

Please see the previous post here:
https://jupiterfutures.com/coffee-futures-analysis-23june2020/

Coffee Futures Analysis- 23June2020

The above chart is Coffee Futures (KCN20) daily chart, which is showing a strong consolidation taking places currently between 90-100 levels, and above 100, we will see a rally towards 120. Coffee Traders should stay long above 100 for Target 120-125. The rally above 100 towards 120-125 is likely to be very rapid, and it will not much chance to Traders who are not long from 100 level.