All commodities have been getting whipsawed for weeks or months. That chart could be turned upside down next week.
Coffee in particular has been pounded 57% lower for 2 yrs. It's possible Monday was a bottom of sorts. It's gonna take a lot more than a 5 day rally to get excited again. When sugar finally bottoms, then I'll start to get the feeling that the commodity correction has run its course.
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Of course, the opposite can be true as well.
I knew it would happen.
Next week and the rest of this spring will tell us much more.
Knowledge is the enemy of fear
Coffee in particular has been pounded 57% lower for 2 yrs. It's possible Monday was a bottom of sorts. It's gonna take a lot more than a 5 day rally to get excited again.
When sugar finally bottoms, then I'll start to get the feeling that the commodity correction has run its course.
Coffee had a strong gap up on Friday - may have to get refilled first
News out Friday was that a fungus was ravaging the coffee crops in Central America. Could take a couple years to play out.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I knew it would happen.