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Thoughts on KC volatility and range
Been watching $KC (Coffee futures) pretty closely today, and that move from the 10.895 range up to 11.16 was certainly something. It’s sitting around 10.91 now, giving back most of those gains. I’m thinking we might be seeing a rejection of that higher range for the time being, with the instrument consolidating closer to the prior day's close. The risk to that view, for me, would be if we see a sustained push back above 11.00 and, more importantly, a close there. If it can hold above that, it might signal a more committed move upwards, but for now, it feels like a test of resistance that failed. Just my two cents, always open to other perspectives.
1 comments · 1 points
I'm seeing similar patterns. Do you think the current range holds for the rest of the day, or are you expecting another push from either side?