Coffee

This is a market which i was involved in as a junior assistant to a French Coffee & Cocoa dealer back in the mid 1980's. He was fortunate to have two huge trade accounts for Nestle and Suchard which he took with him to whichever company he worked for...ending up at Drexel B-L shortly before it went bust.
The chart above shows simple forks with all reaction lines drawn at 100% intervals except in the case of the smallest fork-dark blue fork where they are drawn at 50% intervals. Price has now reached a confluence of 3 down sloping/resisting reaction lines and the grey UMLP and pulled back sharply 1.5% last Friday. I would be very surprised if we did not see further retracement below 200.00 but this market looks very strong and as now broken through the green (mod Schiff) down sloping fork's UMLP. You can see that it is only when you go down to the lower TF of 60 mins that the RL's really show detailed interaction with price. Cocoa seems to be performing very weakly by comparison.
This chart i hope shows readers that price never interacts with one single fork at a time.
Euro & DX review to come later