The International Coffee Organization (ICO) reported its composite indicator increased by 4.7% to an average of 103.66 US cents/lb in July 2020, following three months of declines. And net long coffee positions of coffee futures traders rose last week, according to Commodity Futures Trading Commission’s Commitment of Traders report. Thus, the non-commercial net long position increased over the one week period ending in August 17 by 27.03% to 16,526 net longs, which is the equivalent of 4,685,048 bags. So speculative traders increased their bullish position. Bullish sentiment buoys coffee price.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy |
| Order | Buy |
| Buy stop | Above 124.68 |
| Stop loss | Below 112.93 |
Market Analysis provided by IFCMarkets.com
Free Reports:
By Analytical Department RoboForex EUR/USD begins the week around 1.1540. Following a volatile week, market…
By JustMarkets On Friday, the US stock market posted gains amid a volatile session, supported…
By JustMarkets On Thursday, the US stock indices posted strong gains, fully recovering from the…
By Analytical Department RoboForex USD/JPY recovered to 160.60 on Friday following a sharp drop the…
By Patrick J. Schena, Tufts University Creating a government fund to own AI stock and…
By JustMarkets The US equity indices ended Wednesday’s session with notable declines as geopolitical risks…
This website uses cookies.