• 587 days Will The ECB Continue To Hike Rates?
  • 587 days Forbes: Aramco Remains Largest Company In The Middle East
  • 589 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 989 days Could Crypto Overtake Traditional Investment?
  • 993 days Americans Still Quitting Jobs At Record Pace
  • 995 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 998 days Is The Dollar Too Strong?
  • 999 days Big Tech Disappoints Investors on Earnings Calls
  • 1,000 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,001 days China Is Quietly Trying To Distance Itself From Russia
  • 1,002 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,006 days Crypto Investors Won Big In 2021
  • 1,006 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,007 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,009 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,009 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,013 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,013 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,014 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,016 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Coffee Getting Roasted ($KC)!

First off, I am merely a Coffee lover not a Coffee trader. I haven't traded a single contract of KC ever.

But I just wanted to quickly take a peek at the EW structure of Coffee as it is brewing up a lot of interest lately on Timeandcycles.com with its continuous drip lower.

This is not a timing post or short term post, just a long term Coffee prognostication based on EW structure.

With that out of the way, I see nothing BULLISH in Coffee chart, it may find floor at 108.68 and/or go to 128-130 first or after hitting 108.68 over the next 4-5 weeks. 128-130 is serious EW structure resistance that will cause resumption of downtrend. As long as this range level holds on DAILY CLOSES, chances are Coffee is retracing towards the base of 2002 rally longer term, but a print sub-80 over the next few years may provide some temporary relief to the drip. So let us say for now Coffee has a target of 80 over next couple years.

Good luck!

KCZ13 Monthly - 25 Year Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment