Sunday, 7 March 2010
coffee
Worth keeping an eye on this with the 1 year cycle from the low kicking in this week,a possible declining wedge pattern,doji on Fiday after finding support at .618 retracement and neg divergence on Macd.The weekly swing chart does not look positive though and we need to see the lower high taken out.It is possible that selloffs in some of these soft commodities were due to the strong dollar rather than a change in supply/demand picture,although the cocoa chart still looks bearish.
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