Coffee and O.J. tank

As featured in my latest weekly edition on Macro Extremes, Coffee and Orange Juice were touching ‘weekly’ Overbought ‘extremes’……

https://robzdravevski.com/2021/08/01/macro-extremes-week-ending-july-30-2021/

These commodities have declined 14% and 10% respectively over the past 4 trading sessions.

It’s not easy calling a reversal in trend but when prices rally sharply and somewhat parabolically, probability of a decline or mean reversion increases.

It does help tell you one thing…..be careful initiating a Long when ‘weekly’ Overbought extremes are being registered.

August 3, 2021

by Rob Zdravevski

rob@karriasset.com.au

https://robzdravevski.com/2021/08/01/macro-extremes-week-ending-july-30-2021/