COFFEE

Another update is on the long and medium term Coffee charts. One month from the last update Coffee has found support at the lower boundary of the long-term trend channel and rebounded sharply.

http://techcharts.wordpress.com/2012/06/01/coffee-3/

Before we identify the direction of the next medium/long-term trend, Coffee is likely to consolidate between 200 levels (200 day moving average) and 160 levels in the next few weeks. Though, it is important to note that price found support at 150 levels and this confirmed the validity of the upward trend line (which should act as support going forward).