SINGAPORE: New York December coffee may test a resistance at $2.0665 per lb, a break above which could lead to a gain to $2.09.
The contract is riding on a wave c from $1.9130.
This wave is capable of travelling into $2.0665-$2.1615 range.
It is a part of a bigger wave C from $1.82, which may at least extend to $2.09.
Support is at $2.0265, a break below which could cause a fall into $1.9870-$2.0080 range.
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.
Source: Brecorder
