SINGAPORE: New York March coffee may retest a support at $1.1995 per lb, a break below which could confirm a target of $1.1770.
The support is provided by the 76.4% projection level of a downward wave C from $1.2730.
This wave is expected to travel to $1.1770.
Resistance is at $1.2250, a break above which could lead to a gain into $1.2365-$1.2505 range. 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.
Comments
Comments are closed.