SINGAPORE: New York March coffee may drop to $1.2025 per lb, as it has cleared a support at $1.2390.
The support was provided by the 61.8% retracement of the downtrend from $1.3565 to $1.0485. The next support will be at $1.2025, a break below which could cause a fall to $1.1660.
A break above $1.2390 could lead to a gain to $1.2840. Note: Coffee report is published twice a week - Tuesday and Thursday.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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