Wednesday, 11 November 2015 18:13
.1425″ alt=”NY coffee to fall to .1425″ width=”600″ height=”343″ src=”https://globalrubbermarkets.com/wp-content/uploads/2021/09/asia-coffee-harvest-slow-in-vietnam-indonesian-premiums-up.jpg”>SINGAPORE: New York December coffee is expected to fall to $ 1.1425 per lb, as it has cleared support at $ 1.1735.
Support was provided by the 23.6 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle from the Oct. 14 high of $ 1.3750. The next support will be at $ 1.1425, the 38.2 percent projection level.
This wave has a minimum target at $ 1.0925, the 61.8 percent projection level. A break above $ 1.1735, now a resistance, may lead to a gain limited to the 14.6 percent projection level at $ 1.1925.
No information in this analysis should be considered as being business, financial or legal advice.
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.
