Is this rally in Coffee for real?

Research Posts Breakfast Report

/ by nawadblueline | Leave a comment

Coffee futures have been trapped in a sideways range for the past two months leaving traders cautious about any hopes for a sustained recovery in prices however outside markets such as Sugar and Cocoa have dominated to the upside. Is it Coffees time to shine?

Cocoa

Technicals (December)

Cocoa futures corrected sharply after making new contract highs! Cocoa has traded with a Bullish trend since August 17 at 3512. Only a breakdown below 3556 will shift traders to the sidelines. 

Bias: Bullish/Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 3700-3750***

Pivot: 3556

Support: 3391**,  3300-3250***

Coffee

Technicals (December)

Coffee futures stage a three-day rally, triggering our trend neutralizer. Only a close above 159.69 or below 151.37 indicates the next direction. 

Bias: Neutral

Previous Session Bias: Neutral/Bearish

Resistance: 159.69**, 160.00**, 163.58**, 165.34-166.00***

Pivot: 155.00

Support: 151.37***

Sugar

Technicals (March)

Sugar futures corrected from Friday’s new contract highs. The market has been bullish since August 25, and only a breakdown below 25.65 will take it back to a neutral trend. 

Bias: Bullish/Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 27.95-28.00***

Pivot: 25.65

Support: 24.74***

Cotton

Technicals (December)

Cotton continues to consolidate in a Neutral trend. Only a close above 88.52 or below 85.02 will determine the next tradable direction. 

Bias: Neutral

Previous Session Bias: Neutral

Resistance:  88.52**, 89.00-90.00***

Pivot: 85.88

Support: 85.02**, 82.00-81.90**, 81.67***

Rough Rice

Technicals (November)

Yesterday’s washout has driven prices to a Bearish Trend at 15.795 on September 11. Once a close over 16.530 will drive prices back to a Neutral trend.  

Bias: Bearish/Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 16.53**, 17.00****

Pivot: 16.00

Support: 15.00**, 14.75***

Milk Class III

Technicals (October)

Milk futures slide to a Bearish Trend on September 18 at 17.80. Only a close over 18.92 will neutralize the new trend. 

Bias: Bearish/Neutral

Previous Session Bias: Neutral

Resistance: 18.92***

Pivot: 18.45

Support: 17.50**

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.

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