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Thursday, December 19, 2013

Coffee update

click to enlarge
Coffee has broken the initial cloud break and the 52 bar has crossed through the 26 and 9 price bars ....but.... has not confirmed by breaking the cloud its self.  A lot of times when the 52 breaks the cloud there will be a pullback to test the cloud support, I can see where this would be the case because of lack of a bottoming pattern. (ie double bottom,wedge,etc.). The wave configuration as you can see is so far looking like a  x,a,b,c.

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