NY coffee may fall more into $1.5890-$1.6185 range

20 Dec, 2022

SINGAPORE: New York March coffee may fall more into a range of $1.5890-$1.6185 per lb, as a bounce from $1.5415 has completed.

The completion was confirmed by the two failures of the contract to break a resistance at $1.7340.

The bounce was shaped into a flat pattern, which suggests a return of the price to $1.5415.

Arabica coffee extends rebound, sugar also up

Resistance is at $1.6665, a break above which could lead to a gain into $1.6960-$1.7435 range.

Read Comments