Arabica Coffee (KC) gained a near 1% yesterday, further reclaiming upchannel support (on the daily and weekly chart). With KC just shy of downchannel resistance (on the 4hr chart) and comfortably above the psychologically key 2.25 whole figure level, KC no longer appears likely to slide back to the May low in July. Congratulations to readers who benefited from the July 24, 2020 report highlighting the growing momentum behind KC’s major bottoming efforts and again on Nov 13th. Note the gains in the 1 week since the July 16, 2021 alert of the looming Bull Flag Extension. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish or rallying. I am looking at entering long in the green zone of the daily chart (in the ~2.23-2.30 range), targeting the red zone (of the daily chart in the ~2.36-2.42 range) for Thursday. The amber/yellow zone (in the ~2.15-2.20 range) is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter). Click here for analysis on COTTON, VIX
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