SINGAPORE: New York coffee may retest a resistance at $2.0985 per lb, a break above which may lead to a gain into the $2.1335-$2.1620 range.
The contract stabilized around a support of $2.0575.
The stabilization suggests an extension of the bounce from $1.9460. Three waves make up the bounce.
The current wave c could travel into a range of $2.1335-$2.1905.
NY coffee may test resistance at $2.1820
A break below $2.0575 may open the way towards the $1.9790-$2.0150 range. Reuters