After a huge comedown, coffee could be about to deliver a buzz once more, says Mark Sturdy at www.sevendaysahead.com.
The decline from its 2011 peak is nearing possible support at 169.09. Meanwhile, the daily relative strength index (RSI) has been gaining against the backdrop of a falling price, another bullish portent. A push above 205 will turn things much more bullish and above 210 will reverse the downtrend.
City Trades are written by selected external contributors and are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.