The Behavioral Analysis of Markets Coffee Model has triggered a strong buy signal and is now long. (current price 118 basis July) The model has also generated a retest level at the 116 level and that will serve as a limit buy level if touched moving forward. As with all long-term major buy signals, the model is in accumulation mode (no leverage) and will not sell contracts at any stop-loss level.
The model’s initial upside target is the 148.50–158.50 area (both established vibration levels) and assuming proper tracking into the future zone of strength, we will issue new higher level targets into 2021–2022.
