SINGAPORE: New York March coffee may retest a resistance at $2.3865 per lb, a break above which could lead to a gain to $2.4260.
The drop from the Dec. 7, 2021 high of $2.5235 adopted a corrective wave mode while the current rise looks very impulsive.
The uptrend from $1.8485 may have resumed. Support is at $2.3230, a break below which could cause a fall to $2.2835.
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