Yesterday, the nearby NY coffee contract made a top extension. This is almost expired, but that doesn’t detract from the signal. London coffee has also extended at a weekly scale, so this seems to be an important moment. Sell longs and look for a place to sell short.
This is the latest commodity market to show signs of ‘rolling over’ and we expect more.
All signals courtesy of software supplied by our friends at Parallax Financial Research www.pfr.com
