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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (97027)	12/3/2020 6:05:45 AM
From: Goose94	Read Replies (1) \| Respond to of 202902

Coffee: Holds Support Some continued wet weather is key growing areas of Brazil has helped to keep March coffee futures prices in check, as earlier dry weather had been forecasted to be a large bullish factor. However, lock downs on restaurants and coffee houses will continue to prompt sluggish demand on coffee, but the promise of a future-tight crop should continue to provide March coffee prices with some support. The UK has announced that they will begin distributing the Pfizer vaccine, which should be viewed as a bullish factor on the demand side for coffee. Although several factors will continue to play a role in how effective the vaccine and distribution of the vaccine will be, on-the-whole, the news is positive for the future of coffee shops and restaurants. From a technical perspective, the aggressive bullish crossover of the price action through the 200-day MA has been followed by consolidation and strong support. The March coffee price action has also managed to back and fill the gap from 11/27/20 at 119, and has subsequently held support above the 200-day MA. There are several strategies that traders can apply in this situation. For more frequent commentary, please check out and subscribe to my daily futures market videos on coffee and other commodities. youtube.com Coffee Mar ’21 Daily Chart