Whilst the chart may suggest a H&S pattern will form which suggests a bearish move. We have to see the fundamentals here. There has been huge stock drawdowns with huge %age of failed gradings. Conab only predicts a 5.5% increase in total Brazil coffee, off which Robusta recovery is much greater than Arabica. Need to consider the Arb of Robusta vs Arabica too.... is demand switching back to Arabica? |
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