Arabica Coffee (KC) Consolidates Near 2021 High
Arabica Coffee (KC) formed a daily Doji yesterday, closing at prior upchannel resistance (on the daily chart). Significantly, although KC is vulnerable to more consolidation today, KC remains within a few day’s volatility of retesting the 2021 high, with odds high for extending the weekly chart Bull Flag in the next week. A higher October low versus the September low is all but assured, and would reinforce the bullishness of a higher September high and low versus the August high and low, and a higher October high than the September high. Congratulations to readers who benefited from the July 24, 2020 report highlighting the growing momentum behind KC’s major bottoming efforts and again on Nov 13th. Note the gains in the 1 week since the July 16, 2021 alert of the looming Bull Flag Extension. The weekly and daily RSI, Stochastics and MACD are rallying or consolidating recent gains. I am flat after profitably closing longs yesterday, and am looking to re-enter long in the green zone of the daily chart (in the ~2.01-2.09 range), targeting the red zone (of the daily chart in the ~2.14-2.20 range) for Thursday. The amber/yellow zone (in the ~1.92-1.98 range) is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).
Sample of Today’s Top 3 Trades Available to Free Subscribers (published Apr 14, 2021)
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