Best Financial Markets Analysis Article Until recently the 2010 price action in ICE Coffee was relatively uninteresting, with bears looking a real threat. However, the recent surge upwards has brought the chart to life, with the probability of higher values to come.

The Commodity Specialist view

COFFEE MONTHLY CHART - CONTINUATION:

In the Commodity Specialist Guide we have taken a step back to look at the major 1997/2001 downmove.

With the 169.60 Feb-08 peak under attack the immediate level higher is the 180.00 50% mark (see also Daily chart).

Temporary resistance around here would not surprise, but we think the chart should push higher in due course.

DAILY CHART – SEP-10:

Violation of the 153.40 Dec-09 high has quickly led to a move towards our first Fibo projection at 179.00.

Pullbacks are assumed to be temporary, the 153.40 area offering first support – ideally this will hold in order to preserve maximum bull momentum.

Back-up support comes from the lower 142.75 Apr high.

We have marked in a higher Fibo projection around 189.00, a later target.

Mark Sturdy
John Lewis

Seven Days Ahead
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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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