Monday 14 November 2011

Coffee ( Dec11)...takes a 10 cent tumble








Here are a selection of screen shots showing coffee 'C' Dec11 and continious plus the Dec11 CFD. I got chewed up( stopped out on my short) last week in the narrow range 228-231 and my particulalr weakness is timing which i find very difficult in high time frames BUT when the unconvincing break up came on Friday I warned against getting sucked in long as this soft commodity looks in a very weak state and i expect to see 221 then lower.Today we were happy to see a resting sell/stop order hit at 228.90. Cocoa has fallen last week and this from 2732 to 2400 as i write. Coffee has a difficult week ahead. Expect to see some support at 225 to 226...maybe a small RT back up to restest 230 before lower. For an short entry use a combination of the trigger line restest combined with the B-line + short stochs/B-Bands/MaccyD

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