Today was the fourth day in a row that the July coffee contract has closed up. The closing price is 1.3430, up 160 points.
I wanted to share with you the attached technical report which says that the long term and mid-term prospects are bearish, but for the short term we could see some more price increases. The report is worth reading.
Once again we are coming into the period of potential frost in Brazil and traders could be buying a little protection.