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NY coffee may bounce into 0.9630-$0.9850 range

  • The support is provided by the 200pc projection level on a downtrend from $1.2260.
Published June 16, 2020

SINGAPORE: New York July coffee may bounce into a range of $0.9630-$0.9850 per lb, as it has found a support at $0.9280.

The support is provided by the 200pc projection level on a downtrend from $1.2260.

The bullish divergence on the hourly RSI suggests a decent bounce is due.

A break below $0.9280 could cause a fall to $0.9060.

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