Coffee: Cream of the Crop?

About this time last year, NYBOT coffee prices started a long and steady climb. In less than half a year, the value of a futures contract for coffee had almost doubled. To put that in perspective, crude oil prices gained about 10% during the same period.

Market history rarely repeats itself tick for tick, but given the variety of significant patterns in coffee that have us seeing double right now, it's worth remembering just how hard this soft can surge. Several pairs of similar signals have Futures Junctures editor Jeffrey Kennedy convinced that coffee presents today's very best Elliott wave opportunity:

More...