MARKET

Coffee Market Chart for the Last Week (2024-07-29 to 2024-08-04)


The market was moving like we were running in the park last week and it was catching everyone's attention.
However, the week of July 29th to August 4th, things were a little different.
It was like a dog that has come to the park and is unsure which ball to play with, the market was unsure and only showed small movements.

Looking at the closing price for this week, it started at 229.00 and ended up bouncing back a bit at 228.85.
Overall, the prices were pretty much the same from the beginning to the end, and it felt like I was just a little distracted by a smell I spotted during a walk.
The market movements also have a small range between the highest and lowest prices, which is like walking a dog on a leash.
I can't go far, but when I find a place of slight interest, I focus on it...
So this week has been a bit more cautious and wait-and-see compared to weeks prior.
It's like waiting for someone to throw a new ball.

But when the market is this quiet, it's hard to predict what's going to happen next.
Like we never know what scent we'll follow next.