This KC has run and run upwards these past few weeks without pausing for breath on no stronger fundementals in my mind than those driving other commodities to their heights - when today happened.
When is this market going to break I wonder?
Options are far too illiquid by the looks of it, so trying to pick a decent entry for a short is going to be key I think.
My thinking on Coffee is that unlike other foodstuffs, you can live without it (allegedly!) so if the grains can tank, stock markets can tank, and some metals, then it's about time KC got kicked into touch too - even a one day corrective move down to 250 would merely be retracing 50% of the move this year so far.
As for gold - funny how it stayed up today when so many other metals tanked. What's that saying about it trading like a currency or a commodity as and when it feels like it?
A mid range close (on the 2 day session) but looking a bit weak on the overnight session so far. Can't seem to read this one correctly of late, having missed the move from 1360 all the way to 1390.
Climbing a wall of worry perhaps?
Gotta have something to look at whilst keeping clear of Energies & Cotton which I liken unto putting one's hands into a propeller at the moment!