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Saturday, November 5, 2011

US Coffee C - Dec 11 (KCZ1) WEEKLY TREND & TRADING STRATEGY : 07/11/2011

US Coffee C - Dec 11 (KCZ1) Overview

Us coffee daily trend looks bullish but as there is one more bearish technical pattern emerging as of weekly basis & couple of indicators that is SLOW SCO & CCI has broken the support channel..we assume coffee to slip into negative region in the latter week or from the 2nd or 3rd trading session.

WEEKLY TRADING LEVELS

BEST BUY & SUPP @ 225 ACTUAL RESIS & BEST SHORT LEVEL 228.40 ; A BREAK ABOVE 232 UPSIDE TGT IS 238.30/241.45 ; A CRACK BELOW 222 THEN DOWNSIDE TGT IS 215.50/212.45

CMP – 230.98

TRADING STRATEGY

As coffee prices are trading above the resistance level & daily trend indicating upside traders can take sell positions @ or above 232-236 (if get) & average @ 238 – 240 for target 215.50/212.45 ; If fails to sustain higher & due to any economic or fundamental impact if prices fall below the support 222.60 then traders can take immediate sell position for the same target.

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