"It does look as though it's building a much bigger top now." He noted that the market had failed to make much headway above the early seventies ($270s) during a recovery in September, which had subsequently put the market back under pressure. But Green said the speed of the market's decline over the past fews days had left the market oversold, allowing room for a small recovery. "But generally it will be selling into rallies now. Any move to the upside will be a correction of the drop and not a resumption of the upward move," he said. COFFEE: The market was due to open $9 lower on numbers, but traders expected it to open $5 lower. LIFFE robustas were expected to remain under pressure but Green said that any downward movement continued to lack momentum. "There's no real impetus to the downward movement at the moment," he said. "Whenever we move to new lows, you immediately see the market spring back again." Green said that November robustas would really need to start moving above the $770-75 level to turnthe market around. Nearby resistance was seen at the $735-40 area. Support was initially pegged at the contract low of $700, with further underpinning seen around $670-75.

COCOA: The market was due to open steady. Green said there was no change in long term trends in LIFFE cocoa. "For the moment it's quite content within tight parameters," he said. He said that support on the approach to 600 pounds, basis December seemed to be containing the market. Further support would kick in again around August lows of 590 pounds. "If it gets back down to 590, you almost inevitably have to look below it to see what happens. In effect there's a ghost support underneath it," Greene said, pegging it around 575-80 pounds a tonne.