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Coffee: Opportunity Heats Up... For FREE
On Thursday, July 17, Coffee prices were about as perky as a lump of dry coal. By day’s end, the market had plunged to its lowest level in over a month.
As for why -- well, that depends on whom you ask. According to the mainstream experts, two main fundamentals were behind the market’s nosedive: 1.) The plunge in crude oil prices, which supposedly takes the "inflation hedge" edge off. (See “Coffee futures plummeted as crude oil fell, pummeling the CRB Index.” AP)
And -- 2.) Favorable weather conditions in the worlds’ largest coffee producing region, Brazil. (See: “Mostly clear skies with dry weather is expected through Monday.” Futuresource.com)
Not so fast. Oil’s current free fall got started on July 11. Yet -- coffee’s most recent downtrend didn’t begin until July 15. Also, while one commodity website sees sunny skies over Brazil this coming weekend, another news source suggests the need for an industrial strength umbrella.
Case in point: This July 17 National Hurricane Center alert: “A strong tropical wave over the central Atlantic Ocean may strengthen into a tropical depression at any time during the next day or two before it reaches coastal Central America.” (AP)
(Wake Up And Smell The Opportunity In Coffee: In the Thursday, July 17 Daily Futures Junctures, Elliott Wave International’s senior commodity analyst Jeffrey Kennedy presents the most objective insight into coffee’s near-term trend changes out there. See the full story absolutely FREE**)
The bottom line is: No matter how low crude oil prices go OR how strong the winds in Brazil may blow, a meaningful downtrend has already occurred in Coffee. And, in the July 11 Daily Futures Junctures Weekly Wrap-Up, editor Jeffrey Kennedy sounded the bearish alarm in coffee via the following price chart: (Some Elliott Wave labels have been erased for this publication)
The best part is, in the Thursday, July 17 Daily Futures Junctures, Jeffrey revisits the coffee market to reveal the next big opportunity coming just around the corner. In Jeffrey’s own words: “Coffee has indeed cooperated with our analysis… We can now begin identifying likely termination points” for the current decline.
Get the complete story, including Jeffrey’s newly updated outlook for Cocoa, at the unbeatable discount of 100% off. No, that's not a typo. That's the benefit of EWI's Futures Junctures FREE WEEK. Click here for details on how to take advantage of this incredible opportunity
(Editor’s Note: In the July 2008 Monthly Futures Junctures, Jeffrey Kennedy picks coffee out of the crowd for a very special “Featured Market” segment. There, he presents four compelling price charts and three pages of in-depth analysis that reveal where java will be in the weeks, and months ahead. The entire Futures Junctures Service is available right now at absolutely no cost. Sign-up for Free Week today.)