July ICE coffee futures (KCN25) present a selling opportunity on more price weakness.
See on the daily bar chart for July ICE coffee futures that prices have seen a technically bearish downside “breakout” from the recent trading range and on Monday, April 7, hit a nine-week low. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is also in a bearish mode as the red MACD line is below the blue trigger line and both lines are starting to trend lower. Bears have quickly gained the near-term technical advantage.
