COFFEE MONTHLY CHART - CONTINUATION: In the Commodity Specialist Guide we have taken a step back to look at the major 1997/2001 downmove.

With the 169.60 Feb-08 peak under attack the immediate level higher is the 180.00 50% mark (see also Daily chart).

Temporary resistance around here would not surprise, but we think the chart should push higher in due course.

DAILY CHART - SEP-10:

Violation of the 153.40 Dec-09 high has quickly led to a move towards our first Fibo projection at 179.00.

Pullbacks are assumed to be temporary, the 153.40 area offering first support - ideally this will hold in order to preserve maximum bull momentum.

Back-up support comes from the lower 142.75 Apr high.

We have marked in a higher Fibo projection around 189.00, a later target.