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Thursday, September 29, 2022

NY coffee may test resistance at $2.1820

SINGAPORE: New York coffee may test a resistance at $2.1820 per lb, a break above which could lead to a gain to $2.2375.

The strong surge from the July 15 low of $1.9460 suggests a reversal of the downtrend from $2.4175.

The trend adopted a corrective wave mode, consisting of three waves.

Asia Coffee: Prices in Vietnam edge up on tight supplies

The wave C is 1.618 times longer than the wave A.

Such a mathematical relation well confirms the completion of the wave C.

A break below $2.1260 could trigger a drop to $2.0575.

NY coffee may test resistance at .1820

Source: Brecorder

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