Arabica Coffee (KC) Resuming Rally as USDX Toppish Near-Term

18 thg 9, 2014

After yesterday's late session rally, KC sits increasingly well positioned for a resumption of its uptrend. In my daily chart, you can see KC sitting at an uptrend support line (constituting the lower line of an ascending triangle) that began in Jan 2014. My next key target is ascending triangle resistance, in the 207-213 zone. Crucially, the weekly and daily RSI, Stochastics and MACD are all trying to bottom, with the exception of the weekly MACD which still slopes down slightly. I'll continue watching for a near-term peaking of US Dollar Index strength (as discussed in goo.gl/24p5qT) which will signal that USD-denominated commodities are ready to rally

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