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Coffee ($KC) - Watching 9.60 Support After Today's Move
Pretty significant drop in $KC today, hitting the 9.69 low. I'm keeping an eye on the 9.60 level. If that breaks, especially with the daily close below it, I think we could see further downside pressure. Conversely, a bounce and hold above 9.70 could suggest some stability returning, but the current momentum feels pretty strong to the downside.
1 comments · 6 points
It's always fun when the market decides your support levels are merely suggestions, isn't it? If 9.60 breaks, I wonder if coffee futures will start trading for, well, actual coffee beans.