View: JO.png

JO.png

If you're a regular reader of "Agrimoney.com" (fantastic website by the way) you may be a little confused why JO fell 6.0% yesterday. Harvests are strong in Arabica beans, Colombia is reporting strong numbers too, but people are forgetting that South America is still in a drought which will affect two years worth of crops. Furthermore, Vietnam is reporting the lowest stocks of coffee beans since 2011. In the long run I am still bullish on coffee. Curious was that the fall yesterday landed right on a resistance line I had actually drawn back in August. So far it's holding and if it continues to this means the ascending blue channel is being widened, not actually breaking down. An ascent from here is still possible. Fantastic long term "buy."

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