Sept Coffee has been tracing out its seasonal trends well all year. It shows a selloff in June with the bounce back ist 1/2 of July and then a selloff to the latter part of July and then another bounce into early August and another selloff into the middle of August with another bounce up into mid Sept. Then a sharp selloff from mid Sept to early October. After that it starts zig zagging higher right into December. So far the pattern has been on track in all seasonal time frames.
Right now price is back to support at the June lows of 243 as well as testing the 200ema once again. And it is the last 1/2 of July. So this may or may not hold. Seasonals are not exact but only a guide and the last 1/2 of the month is as close as you can use it for. But the 5yr, 15yr and 30 yr seasonal trend charts overlaid all show a selloff last 1/2 of July. Whether this support holds or sells off further is questionable. But odds favour a further selloff into the end of July despite price being at support. Technicals are bearish with the RSI 21 under the 50 line and rolling back down and the Modified MACD also below the 0 line and showing a bearish frown.