 Hello, welcome to this week's CMC markets commodity snapshot. This week we're looking at coffee coffee arabica But we're also going to have a quick review of how we were looking at copper prices And we're going to look at the chart patterns and the fundamentals involved in both of those Now last week we posed the question has the cuts in the reserve ratio in China put a bottom in copper prices So far the answer is to the affirmative if we have a quick look at the copper chart now we can see The prices are breaking out and they've they've overtaken the the 270 level and So this is a sort of confirmation of a technical breakout potential sort of double bottom pattern haven't taken place here and And we could be on for a move up to 290. Let's let's see how this plays out Now moving swiftly over to coffee arabica Last week we saw a massive breakdown in the coffee price And so what we want to see here is well is this is this move down sustainable or is this potentially even a buying opportunity? What's happened is that if you remember we talked in a good number of snapshot videos ago about the drought in Brazil and how that was impacting the production of coffee there's been a slight change up whereby That drought was thought to have sort of followed through an effective production in 2015 But actually we're getting a good amount of rain over in Brazil production looks Crop the crop production of coffee looks a lot stronger than others were expecting and so what we've seen is a breakdown in the 160 per pound in coffee on the chart and let's have a quick look at that now So this is a daily candlestick chart for copper and you can see it's really been this sort of 157 level That you've seen this this obvious breakdown where we saw a big bounce off it And then we've got a couple of minor bounces where price just wasn't able to bounce as high as that previous peak and eventually just rolled over and broke down and You know we're a few days behind the curve here, but if we do pull out to a weekly chart We can see that it's not just a sort of short-term daily phenomenon here This is actually a major long-term level that's been in place over a year now and coffee prices are at 12 month lows So if we to take this this longer-term range here, so the the peak 215 and this recent base at around 160 157 ish And then we project the whole whole range according to this breakdown We could actually get down to a dollar per pound in coffee With an interim sort of level of about a dollar twenty on that 61.8% Fibonacci extension Okay, that's it for this week's CMC markets commodity snapshot We were looking at coffee the data to look out is just the crop reports on coffee Just to see if the the reins over in Brazil are presiding over a bigger crop of coffee this year But we also got to keep an eye on this this 160 level see if that can hold if so We could be seeing further downside in in coffee prices and that obviously bodes well for all of us buying a coffee in the morning