Arabica Coffee (KC) Nears Key 2.5 Level

Arabica Coffee (KC) surged another 2% plus Tuesday, closing at a fresh 2021 high. Significantly, regardless of an increasingly likely test of upchannel resistance (on the weekly chart) by early next year, odds are fairly high for healthy profittaking when KC reopens following the US Thanksgiving holiday break, as KC bumps up against ascending wedge resistance (on the 4hr chart) and uptrend resistance (on the daily chart)…

Arabica Coffee (KC) Daily MACD Trying to Positively Cross

Arabica Coffee (KC) edged almost 1% higher yesterday, and is in the advanced stages of consolidating Tuesday’s break above triangle resistance (on the 4hr and daily chart). Significantly, with Robusta Coffee (RC) likely to form a fresh 2021 high by next week sometime, KC is poised to play a bit of catch up and strengthen its bounce off the 38.2% Fib retrace of the November to July rally extension…

Arabica Coffee (KC) Daily MACD Trying to Positively Cross

Arabica Coffee (KC) gained almost 1.5% yesterday, posting its 4th straight green daily candle and making progress in the week plus effort to halt the slide from the July peak (and highest level since October 2014). Significantly, KC has rebounded off the 38.2% Fib retrace of the November to July rally extension, and has a moderate likelihood of retesting the 2021 high before month end…