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Thursday, October 6, 2022

NY coffee may retest resistance at $2.0985

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

NY coffee may retest resistance at .0985

Source: Brecorder

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