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14th Feb - Coffee Still Looks Weak

14 February 2013

MONTHLY CHART – CONTINUATION:

Support offered by the 142.65 61.8% retracement of the 2001/2011 upmove remains under pressure – will the lower 76.4% level be tested in due course?

DAILY CHART – Mar-13:

The slip back from first resistance around the 157.35 Jun low has continued (breaking through this resistance would have made things more interesting here).

S/term we must still keep in mind the bear channel base projection which now coincides with a Fibo projection at 132.00.

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19th February - Cable has broken down

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7th February - European Stocks diverge

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