New York Coffee Price Rising

05/02/2018

The price of Robusta coffee traded on the London market is expected to open slightly up. The number of transactions through 9,950 lots, open contracts 110,636 lots increased 609 lots. Open interest on New York fell 1.722 lots to 217,782 lots with 27,557 lots traded.

Weekly fund reports at the London Stock Exchange did not buy further but fell 3% to 20,629 lots short of last week's drop in prices. As soon as the funds on New York's stock increased 26.3% of the purchase despite the price down 3%.

Managed funds were in short positions with 11,604 lots and over 30,789 lots, equivalent to 19,185 net short positions. On futures and options 20,629 lots but on the term 108,240 lots and the option to 143,531 lots. Produced and roasted ground is sold at 18,000 lots.

Technically, the $ 2125 price on September contract is under pressure to fall to $ 2110-2100. So the correction is about $ 2100 and the possibility of building up from the current zone.

As soon as the New York coffee market is widening margin to break the ceiling 140.00 cents on the December contract. The market broke the resistance 142.00 cents on the December contract and the ability to rise higher.

In terms of wavelength pattern, 115.50 cents on New York is the bottom that the market has hit the possibility of testing 117.20 cents and building up beyond the 160.00 cents are forming. As prices on the New York Stock Exchange rose, support for the London rally increased, so the market's ability to recover was not far from the current level.