March ICE Arabica (KCAH0) Coffee:
In the medium-term, KCAH0 is still meandering within the slowly rising channel C1, started last July.
In the shorter-term, KCAH0 is positioned to decline and test support at 138.20, then 135.80.
Invalidation: A close above 142.50 would point to a rise towards 146.95.
March LIFFE Robusta (LRCH0) Coffee:
LRCH0 is trending lower in the short-term, within a medium-term descending channel. The next objective is a challenge of 1325, followed by 1300 and then the lower channel line (1252 on 01/21 and 1250 on 01/22).
Invalidation: a close above 1389 would point to a return towards the upper channel line (1409 on 01/21 and 1407 on 01/22).