The two main coffee futures contracts, in NY and London have both made weekly-scale bottom extensions in the last few weeks:
There have been two prior weekly signals in the NY contract (circled on the right, above) which have led quickly to a sharp rally on each occasion and this latest example is conformed by a cluster of similar signals from its London cousin (left, above). What may make this more significant is that there has also been a monthly-scale signal in the NY contract:
These too have a good record of marking an imminent rally, but of course it is difficult trying to 'time' a trade from a monthly signal, or even from weekly versions. We don't have any daily signals that would help us define the best moment to enter, so we would do it 'at market' hereabouts as both prices seem to have only just stopped falling and this may well be the turnaround moment. We will advise further if we see anything helpful.