Coffee futures prices have been behaving without any technical unexpected surprises last couple of trading days!
The upside gap @ (KCZ1) 2.5100/2.5135 was closed today but not yet convincingly left behind , with the daily closing @ 2.5115.
Recent upside move is challenging and almost defeating short term important resistances.
Although this move has been made with lower than average daily volume, increasing open interest has been supporting recent up move. Technical biased buyers still look to have more upside price pushing power, at least in keep trying to push prices up to 2.60/2.65.
Medium term direction still is undecided , any bets should be made on a short term basis with tight stops!
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