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IS COFFEE UNDER 104.00 A GOOD THING?


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JUDY CRAWFORD
ZANER GROUP
312-277-0133
jcrawford@zaner.com

EMOTION is your enemy more than any market will ever be.

IS COFFEE UNDER 104.00 A GOOD THING? This week in my newsletter I suggested it could test 104.00. It not only tested it but is now below that level. About time. Why?

For the last three weeks it had been holding around 105.00 but couldnt get anything going in terms of a serious rally. And maybe theres a reason.

Since late 2019 coffee has seemed to like going under 104.00 before bottoming and getting serious about a rally. When it was trying to hold at 105.00 recently, the best it could do was an 8.00 point rally. But not so when it reaches down to 103.00 to 102.00.

In both Feb. and Mar. of this year it did just that and then both times it handed up rallies equally 22.00 and 26.00 points respectively. And then in Oct. 2019 it did even better. It sold off to 100.00 (ouch) but then had a rally of 46.00 points.

Im not saying we will get a repeat but I am saying it has been a pattern recently so if the selling continues down to 103.00 to 102.00 (as it appears to be) it may not be such a bad thing after all. And maybe that is where coffee will get serious about a bottom and hand us another good rally.

For follow up and more detail on all the markets, sign up for my free newsletter and receive it via email. To sign up go to: www.tradingfuturesmarkets.com. Or contact me directly by email or phone (see below).

Judy Crawford

Senior Broker

Zaner Group

312-277-0133

jcrawford@zaner.com

Trading commodity futures and options involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources. Opinions are subject to change at any time and are a solicitation or recommendation to buy or sell futures contracts or options on futures contracts. The information contained in this message has been obtained from sources believed to be reliable but is not guaranteed as to its accuracy or completeness. All known news and events have already been factored into the price of the underlying commodities discussed.



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BACKGROUND ... Thirty years experience as a commodity broker has given me an insight into the needs of traders that only comes with experience. Originally from Minnesota, I started my career as a stockbroker in New York but moved to Chicago, the center for the commodity industry. I have found that no matter where a client lives in the world, all traders have the same needs.

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