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Sunday, October 17, 2021

NY coffee may retest resistance at $1.8660

SINGAPORE: New York December coffee may retest a resistance at $1.8660 per lb, a break above which could lead to a gain to $1.8945.

The contract stabilized around a rising trendline. This behaviour suggests a further consolidation above the line or a continuation of the uptrend from the Aug. 2 low of $1.7450.

Support is at $1.8335, a break below which could cause a fall into $1.8035-$1.82 range.

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.

NY coffee may retest resistance at .8660

Source: Brecorder

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