What’s with coffee’s calming effect?

Market Pulse: June 4

In last week’s shortened trading week, July coffee opened at 168.45 and closed the week at 157.50.

On the daily chart, you can see technicals reflect a strong trending market with ADX now at 39. MACD is bearish adding divergence from below the signal line and Stochastics are in deep oversold territory. You can see the range of 175-185 started in the beginning of April. Coffee started coming down from 240 in mid-January, finally broke 220 on Feb. 13 and never retested 220 again. Reading the trade management on the chart, you can see open trade equity of just over $24,000 per contract. 

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