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*Is the Rally Here?*

Another big day in the #CoffeeMarkets this time spurred by two pieces of news:

1) Brazilian gov't is issuing water advisories in several states including Parana, Sao Paolo and Minas which is a huge portion of the global supply of #coffee.

2) A warehouse shutting down in SP, Brazil due to #Covid.


The best and strongest #bullmarkets are when the #Fundamentals, #Technicals, #Positioning, #Seasonality, #Weather and #Macro all align and it is time to consider that that is what is happening now.


On the Macro front we have firm expectations for the #BRL and weak expectations for the #USD followed by a potential #demand recovery from Covid = #Bullish.


On the technical front we just saw a bullish breakout of a #triangle #continuation and a very strong Bullish #trendline. #Studies and #MovingAverages all seem bullish.