The LIFFE Coffee instrument has renewed the downtrend from the hefty top formation. The fall through 1722.5 has generated a 'Bear' P&F Breakout signal on the automated scanner, which we have followed. This Bar chart shows that resistance at the downtrend channel delineated by the 50-day MA was not troubled again during the last recovery attempt. The stop is placed at 1900 for now.
We note the NYBOT Coffee contract also produced a bearish P&F signal, at 129.5. The issue appears a second time running on the 'Losers' list too.