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Saturday, January 29, 2022

NY coffee to rise into $2.5525-$2.5920 range; uptrend confirmed

SINGAPORE: New York March coffee is expected to rise into a range of $2.5525-$2.5920 per lb, as it has broken a resistance at $2.4895.

The contract touched a high of $2.5085 on Monday which is higher than the Nov. 24 high of $2.4820.

Such a relation confirms the uptrend.

Based on the depth of the correction from $2.4820, coffee may rise far above $2.5920. Support is at $2.45, a break below which may be followed by a drop to $2.3865.

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 to rise into .5525-.5920 range; uptrend confirmed

Source: Brecorder

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