December coffee futures (KCZ25) present a selling opportunity on more price weakness.

See on the daily bar chart for December ICE arabica coffee futures that prices are in a downtrend and last week hit an eight-month low. Prices have since seen a routine corrective bounce in the downtrend. Bears still have the overall near-term technical advantage.

Fundamentally, coffee futures prices have been pressured in recent months by a likely increase in global coffee production amid favorable weather conditions in key growing regions of the world —especially beneficial rains in leading coffee producer Brazil.

A move in December coffee futures below chart support at 285.00 cents would give the bears fresh power and it would also become a selling opportunity. The downside price objective would be 235.00 cents or below. Technical resistance, for which to place a protective buy stop just above, is located at 310.00 cents.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

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