Technical Forecast Arabica Coffee Futures September 1 2015 : ICE arabica coffee prices managed to close with a rose at the end of trading on Monday (08/31/2015). ICE arabica coffee futures prices ended up slightly after a volatile trading session. Prices in trading last night had experienced a surge to reach the highest position in more than one week later.
Technically arabica coffee prices are already in oversold condition so encouraged bargain hunting buying. US dollar weakened last night has given impetus to the rise in the price of arabica coffee futures.
Prices for arabica coffee futures most active December contract settled up at the end of trading Tuesday morning. Prices ended at 1.2430 dollar positions, rose 0.25 cents, equivalent to 0.20 per cent. Last night the price had reached the position of 1.2685 dollars per pound, the highest since August 24.
Analyst coffeefutures.blogspot.com estimates that the price movement of Arabica coffee futures on ICE Futures US in New York at the next trade still further in bearish pattern. Technical indicators medium and long term is still expecting a continued decline in commodity prices.
Technically arabica coffee prices are already in oversold condition so encouraged bargain hunting buying. US dollar weakened last night has given impetus to the rise in the price of arabica coffee futures.
Prices for arabica coffee futures most active December contract settled up at the end of trading Tuesday morning. Prices ended at 1.2430 dollar positions, rose 0.25 cents, equivalent to 0.20 per cent. Last night the price had reached the position of 1.2685 dollars per pound, the highest since August 24.
Analyst coffeefutures.blogspot.com estimates that the price movement of Arabica coffee futures on ICE Futures US in New York at the next trade still further in bearish pattern. Technical indicators medium and long term is still expecting a continued decline in commodity prices.
The price of Arabica coffee futures on ICE Futures US in New York has
the potential to test the strong support level at 119.20 dollar
position, while the resistance level that will be encountered if there
is no further rise in the position of 129.40 dollars
Short Term Indicators Average: 20% Sell
20-Day Average Volume - 22.791
Medium Term Indicators Average: 75% Sell
50-Day Average Volume - 12.385
Long Term Indicators Average: 100% Sell
100-Day Average Volume - 7.656
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