REPORT – Newedge Research – Coffee

May ICE Arabica (KCAK0) Coffee:

KCAK0 is trending
lower. As long as it remains under the median Bollinger line, the medium-term
outlook will be bearish.

Before that, first resistance is 135, and a
close above 135 will signal a short-term corrective bounce, with a potential
test of the median Bollinger band.
 
Invalidation: A close above
the median Bollinger line would compromise the downtrend. Re-evaluation would be
needed.
 
 
May LIFFE Robusta (LRCK0)
Coffee:

today’s hammer candlestick points to a short-term corrective bounce, towards
1355-1365.

In the medium-term meanwhile, LRCK0 is trending lower, within a descending
channel.