Markets
NY coffee seen in range of $2.7830-$2.9085/lb
SINGAPORE : New York coffee is expected to consolidate in a range of $2.7830-$2.9085 per lb with the likelihood to rise
By
SINGAPORE: New York coffee is expected to consolidate in a range of $2.7830-$2.9085 per lb with the likelihood to rise to $2.9085.
The retracement from the Sept 1 high of $2.9085 is part of a wave (4) consolidation which may have adopted an "a-b-c" flat wave mode, with the current wave "b" rebounding to $2.9085.
A strong rise above $2.9085 will confirm the resumption of a preceding uptrend, with a bullish target to be established at $3.0890.
No information in this analysis should be considered as being business, financial or legal advice. 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.
Copyright Reuters, 2011
More Stories
Comments
Comments are closed for this article.