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Sunday, October 24, 2021

NY coffee may test resistance at $2.0665

SINGAPORE: New York December coffee may test a resistance at $2.0665 per lb, a break above which could lead to a gain to $2.09.

The contract is riding on a wave c from $1.9130.

This wave is capable of travelling into $2.0665-$2.1615 range.

It is a part of a bigger wave C from $1.82, which may at least extend to $2.09.

Support is at $2.0265, a break below which could cause a fall into $1.9870-$2.0080 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 test resistance at .0665

Source: Brecorder

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