Coffee Daily Aug 9, 2022

Arabica Coffee (KC) edged up more than 1% yesterday, forming a green daily Doji at triangle support (on the daily chart). Any slide back below the lower end of the range over the last 2 weeks would dramatically increase the likelihood of a break of the psychologically key 2 whole figure level and a test of the 38.2% Fib retrace of the June 2020 to February 2022 bull market (near 1.97) in the week after…

Coffee Daily Aug 5, 2022

Arabica Coffee (KC) gained another more than 2% yesterday, with the weekly Hammer lower shadow suggesting a refusal to slide back to the psychologically key 2 whole figure level. A weekly close above last week’s high will dramatically reduce the likelihood that KC is in the advanced stages of a Head & Shoulders (on the weekly chart)…

Coffee Daily Aug 4, 2022

Arabica Coffee (KC) rebounded more than 2% yesterday, refusing to slide back to the psychologically key 2 whole figure level. KC will need to rebound back to last week’s high in the next few days to avoid returning to the advanced stages of a Head & Shoulders (on the weekly chart), and to more resemble an extended Bull Flag consolidation…