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Re: Arabica and Robusta COT Report
Oh man, oh man... That price of coffee... Here's a triangle construct that encompasses reality to date. Price indeed 'aberrated' by finishing at the extreme support provided by both triangle bottom and deepest (78.5%) Fib retrace allowance. This particular exact price level has unique singular touchpoints. Notably it being the exact high on 8/26. Bollinger band compression on a variety of time scales is definitely set for an explosion, but often the price moves initially in a fake, before resolving otherwise. Friday's merciless snuffing out of a cigarette under foot, grinding it by the heel, caused weak hands to writhe and squeal in terror. Simply, buying when they are crying, the old motto. I don't foresee further decline, rather a rebound from this rather dramatic aberration. Disclaimer is that I am long futures, thus subject to hallucination. The weekly candlestick situation adds much intrigue as well. I'll show that soon.