Markets
NY coffee still eyes $2.7190/lb
SINGAPORE : A bullish target at $2.7190 per lb is intact for New York coffee as an upward wave "v" is progressing.
SINGAPORE: A bullish target at $2.7190 per lb is intact for New York coffee as an upward wave "v" is progressing.
The retracement to $2.6020 in the previous trading session has not violated the current short-term uptrend, with a wave "v" unfolding to $2.7190, a high touched on July 7.
The upside could be extended beyond $2.7190, to the June 3 high of $2.7675.
Retracement will be limited to $2.64.
Copyright Reuters, 2011
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