COFFEE Analysis: Lower coffee demand bearish for coffee price

July 10, 2020

By IFCMarkets

Lower coffee demand bearish for coffee price

The International Coffee Organization (ICO) estimates world exports at 10.49 million bags in June, 14.6% lower than in May 2019. And imports by ICO importing Members and the United States reached 64.22 million bags in the first half of coffee year 2019/20 (Oct/19 to March/20), 3.7% lower than in October 2018 to March 2019. The ICO reported also its composite indicator decreased by 5.2% to an average of 99.05 US cents/lb in June 2020, which is the third consecutive month of decrease. Lower demand as indicated by falling shipments is bearish for coffee.

Indicator VALUE Signal
RSI Neutral
Donchian Channel Buy
MA(200) Sell
Fractals Sell
Parabolic SAR Sell


Summary of technical analysis

Order Sell
Buy stop Below 97.88
Stop loss Above 102.77

Market Analysis provided by IFCMarkets

Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter