SINGAPORE: New York May coffee is poised to break a support at $1.2645 per lb and fall to $1.2210.
After two failed attempts, the contract may succeed this time. It has broken a rising trendline and completed a pullback.
The uptrend from the Nov. 4, 2020 low of $1.0655 may have reversed.
Resistance is at $1.2910, a break above which could lead to a gain into $1.3125-$1.3345 range.
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