Mar ’20 coffee futures continue with volatile price action but at the time of writing have rejected the lows and have potential to reverse positive as bulls seek to push this rally forward. The previous 3 trading sessions have seen extreme volatility being 3 of the largest daily ranges March coffee has seen! So far, the rally has remained supported by strong fundamentals with tightening supplies and strong demand but after several weeks of steep gains it’s reasonable to expect some resistance. It’s possible that the overbought condition has been corrected but the bulls should be cautious about a sharp pull back in prices if coffee closes below resistance levels. On the daily charts Mar ’20 coffee I still in a strong upward channel, the funds have covered their shorts and are now strong buyers, and the fundamentals are still bullish. In my opinion, there is still an opportunity in coffee.