"C" Coffee Contract Gains on Speculative Buying by FC Stone

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.