Arabica coffee futures settled with gains on Tuesday due to speculative buying. The active contract for March
delivery settled 205 points higher at 124.50 cents per pound. Buying began after the price showed support against yesterday’s lows. Slow activity reflected Thanksgiving coming up, since exchange will be closed on Thursday due to the holiday. Positive technical action contributed to feed the bullish sentiment. Although the mid-term bearish trend is still valid, some analysts note that a double bottom could fuel the current move. However, oscillators at neutral levels suggest a limited magnitude within the move. In related news, global tension, especially between Russia and Turkey, woke investor interest in gold and oil. In Brazil, the real recovered slightly, trading at BRL 3.6985 at 3:15 pm EST.