SINGAPORE: New York July coffee may retest a support of $1.7940 per lb, a break below which could open the way towards $1.7585.
A wave C from $1.9440 looks incomplete.
It consists of three smaller wavers. The small wave c is unfolding towards $1.7010.
Honduras coffee exports in May surge 79% on greater demand
The bounce triggered by the support at $1.7940 will not be reconsidered as an extension of the uptrend from the May 3 low of $1.7555, until it extends above $1.8510.
Source: Brecorder
