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Monday, January 24, 2022

NY coffee may retreat into $2.1810-$2.2205 range before rising

SINGAPORE: New York March coffee may retreat moderately into a support zone of $2.1810-$2.2205 per lb, before retesting a resistance at $2.2835.

A bullish wedge has been confirmed, suggesting a target of $2.40. Before coffee rises towards this level, it has to complete a pullback towards the upper trendline of the wedge.

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 retreat into .1810-.2205 range before rising

Source: Brecorder

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