Why arabica coffee price increases significantly : Arabica
coffee prices on ICE Futures US in New York Stock Exchange ended the
last trading early on Saturday by posting a significant increase (17/8).
ICE arabica coffee futures prices reached the highest position in more
than two months later due to fundamental factors support mainly on
concerns of tightening supplies of supplier countries.Arabica coffee prices are still in the technical conditions that began to move limited gain. Fundamentally, especially in terms of supply, the price coined the potential to continue rising. Drought in Brazil has the potential to lead to disruption of supply of arabica coffee from the country.
At the end of trading last Saturday morning arabica coffee prices have increased significantly. Arabica coffee prices for delivery in September which is the most
active contract closed increased by 0.45 cents, equivalent to 0.33
percent at 1.3750 dollars per pound position.
Analyst Vibiz Research Center estimates that the price movement of Arabica coffee futures on ICE Futures US in New York at the next trade is still in the bearish pattern despite being weakened. Based on technical indicators, for the medium and long term commodity prices is still in a bearish trend for the short term though has revealed a potential bullish.
The price of Arabica coffee futures on ICE Futures US in New York has the potential to test the strong support level at 1.3490 dollar positions and 1.3200 dollar. While the level of resistance that will face if there is no further rise in the position of 1.4030 dollar and 1.4300 dollar.
0 Response to "Why arabica coffee price increases significantly"
Post a Comment