From Jeff Clark, Editor, Stansberry Short Report:
Don’t give up on coffee yet.
The price of coffee hasn’t moved much since I told you several weeks ago that it may finally be breaking out to the upside.
But if you take a closer look at its current setup, you can see that coffee still looks poised for big gains – possibly starting soon.
Let me explain…
Here’s a look at an updated chart of coffee prices…
After my essay in mid-March (shown by the red arrow), the price of coffee jumped about 10%. But it never made it up to my minimum target of $1.48. Instead, the price peaked at $1.35 and then started to slowly drift back down to where it sits today at $1.19.
The chart has support at about $1.15, so owning coffee at this level doesn’t carry much downside risk. But the chart setup isn’t especially bullish.