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Have you enjoyed a cup off Coffee today? Speaking of joy and coffee, the first few months of 2014 were a real joy if you were long Coffee, as it rocketed 100% higher in just two months. The near vertical rally hit the 50% Fibonacci level and 80% of investors became bullish on coffee. The Power of the Patterns suggested for Premium members to establish short positions in Coffee due to this situation.
Over the past couple of weeks, hot coffee has been cooling off and could be breaking a steep support line that could bring in more selling pressure. Keep in mind small investors remain holding a large amount of bullish contracts at this time.