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Coffee Tactical Low in New Bull Cycle

Coffee Tactical Low in New Bull Cycle

Coffee ICEUSA:KC1!

I am bullish Coffee0.00%% since a series of bullish momentum divergences started to develop in February, March and April. As with other commodities , I am convinced that the early 2016 lows were important cyclical lows. I am therefore bullish Coffee0.00%% long-term. The weakening US Dollar0.00%% should further support the entire commodities complex.
The latest correction brought the futures back to an important breakout level, which was succesfully tested. The next swing in coffee0.00%% futures should target 169/170, although it may fade at 160. An interesting trade, nevertheless.

ETF0.00%% Idea in New York: JO
ETF0.00%% Idea in London: 3CFL ($-listed, 3x times leverage, risky)