Coffee Daily Dec 22, 2022

Arabica Coffee (KC) edged almost 1% higher yesterday, closing near descending wedge/triangle resistance (on the daily chart). With KC testing another weekly chart descending wedge resistance line, a higher December low versus the November low is increasingly and rather likely, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…

Coffee Daily Nov 17, 2022

Arabica Coffee (KC) slid another near 1% yesterday, closing below descending wedge/downtrend support (on the weekly chart). Odds are roughly equal for KC to test the psychologically key 1.50 whole figure level ahead of the weekend as it is for KC to rebound above downtrend resistance (on the 4hr and daily chart) in the same period…