Coffee selling opportunity

July 1, 2015 04:42 PM

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Coffee has a fresh sell signal on the daily chart and has broken out of the range that it has been in for the past month. Coffee is right at support and should make new lows. According to my research coffee is once again in a long term trend down on the daily chart with today's action. Coffee has not been in a long term trend down since March on the daily chart.

The weekly chart has a fresh sell signal so far this week, coffee has been super trending down since December on the weekly,I have support at 120 .The monthly chart also has a fresh sell signal so far this month (July) I have support at 110. Coffee needs to take the 11/13 lows out at 12295 with coffee breaking out of congestion to the downside it should continue to trend down.

About the Author

Larry Baer is a senior broker with Zaner Group. He has been in the futures industry for 30 years and his prior experience includes a membership at the Chicago Board of Trade.  During his 10 years on the trading floor, he traded and managed a futures and options operation, which serviced both retail and institutional clients.  He is also the author of “The Trader's Tool Box.”  He may be reached at lbaer@zaner.com and  312.277.0112.