The daily chart for December coffee futures (KCZ26) shows that recent price action has produced a bullish symmetrical triangle pattern and also a bullish pennant pattern. Prices are trending higher, and the bulls have the near-term technical advantage.
Fundamentally, coffee futures prices are being supported by global supply worries amid adverse growing weather in countries like Brazil and Vietnam. At the same time, geopolitical logistical problems have also raised concerns about supplies reaching Western nations. Global demand for coffee is also on the rise.
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Fundamentally, coffee futures prices are being supported by global supply worries amid adverse growing weather in countries like Brazil and Vietnam. At the same time, geopolitical logistical problems have also raised concerns about supplies reaching Western nations. Global demand for coffee is also on the rise.
What Do Cost of Carry Tables Tell Us Heading Into Fall Harvest?
What Was Driving Markets Early Monday Morning?
Coffee Prices Turn Lower on Drier Brazil Weather
#prices #Brazil
3 months ago
