This year's earlier storming recovery by the Coffee instrument became very overbought by February (see RSI). However, it still took about a month for the correction to occur. From a much higher level too, at 211.5 plotted on 12 March. That barrier proved too sturdy to overcome recently, but yielded yesterday. A long trade is opened, for the upside potential towards the early-2012 high at 249.65, with the possibility of the September 2011 peak at 274.05 thereafter. The stop is placed under last month's floor (note support arriving at the 50-day MA), at 165, for now.