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I just want to point out for those that are interested that coffee has broken out of a 3 month downward momentum pattern on the weekly chart using Fast Stochastics 14,10. In addition we are trading above the 50 and 200 moving average. We also had a false breakdown to the downside of a6 month congestion pattern. Plus many weeks of serious testing of the 210-215 area. Again on Friday and early this morning. The support is solid and at a minimum we should test some important resistance levels. My own feeling is that we are at the start of a third wave impulse the implication much higher prices.
With regard to frost forecast it seems that this is a very powerful weather pattern with cold temps for many days with strong cold winds definitely not favorable to coffee plants!
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