(Vibiznews - Commodity) - Arabica coffee prices in the stock Tokyo Grain Exchange (TGE) today (27/09) closed down 390 yen to levels yen/1000 kg to 23,470 contracts in September 2008. External factors of the price of coffee Tokyo New York coffee prices also fell 450 points to level of $ 1.2860 per pound for the month December contract.

A significant decline in prices is due to fundamental Bearish indicated. Fundamental is the development of improved weather in Brazil coffee planting areas. Reportedly it will rain intensively. Planting area will be rain zone is north of Parana and Sao Paulo. The rain was intense enough analysts predicted would be a solution amid the drought that had plagued the planting area for a long time.

Resistance of New York's Coffee at the level of $ 1.3075, $ 1.3090, $ 1.31, $ 1.3125 - $ 1.3135 and $ 1.3150. Meanwhile, the support at the level of $ 1.2740, $ 1.2725 and $ 1.27 per pound.

Resistance to coffee Tokyo at 24,200 yen level range up to 24,750 kg yen/1000. While support level at 22,640 yen range up to 23,270 kg yen/1000.

Pattern MA (Moving Average) of Arabica coffee price trends indicate a continuous rise. The pattern of this increase has a PO (Price objectives) at a minimum price of 24,750 yen/1000 kg.

Technical Arabica coffee prices continued to fall to see the condition of the momentum indicator is still overbought. Corrected expectations fall according to Fibonacci Retracement indicators at the level of 23.6% (23,100 yen/1000 kg).

Opportunity to move higher again be seen from the pattern kontinyuasi name. Expectations of price increases Tyron indicators at the level of 24,500 kg yen/1000. It is estimated that within three days Arabica coffee market will move in the price range up to 23,100 yen 24,500 yen/1000 kg.