(March 11, 2002) COFFEE: The weekly and daily trends in coffee are now both bullish for the first time this millennium. A look at the weekly chart shows that coffee has reached resistance at the 5030-5100 price area. I prefer now only to trade coffee from the long side, entering long on sell offs to daily support and exiting on rallies to resistance. The fundamental landscape of the coffee market shows large supplies remain so I believe it is too soon to look for any substantive rally.
