1. On Fri., Nov. 21 March coffee declined, tested and reversed off an important support area between $188/$87 (Friday’s session low, $187.50). This was mentioned in Friday’s Williams edge live meeting, as well.
2. Under normal conditions, continued hourly and especially daily closes above $188/$87 indicate a test/attempt at $198/$99 into next week (week of Nov. 24).
3. Any hourly or especially daily close above $193.00 will also be further indication for the above-noted advance. Will message any new long entry based upon the above as the market continues to confirm.
1. Our Sun. (Nov. 23) March coffee update forecast an advance from approximately $191.50 to $198/$99 into early this week (week of Nov. 24).
2. Although no official trade entry occurred, March coffee advanced and completed the majority of the forecast move from $191.50 to $198/$99 in today’s (Mon., Nov. 24) session (today’s session high, $197.80, so far).
3. Williams edge is relatively new to coffee futures however we anticipate more direct trading opportunities as we become more familiar with the coffee futures market movement.