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New York coffee may test resistance at $1.1040
The break signals a reversal of the downtrend from the Dec. 17, 2019 high of $1.4245.
Support is at $1.0625, a
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- The break signals a reversal of the downtrend from the Dec. 17, 2019 high of $1.4245.
- Support is at $1.0625, a break below which could open the way towards $1.0370.
SINGAPORE: New York March coffee may test a resistance at $1.1040 per lb, a break above which could lead to a gain to $1.1295.
The resistance is identified as the 138.2pc projection level of a downward wave c from $1.3465. Coffee has broken a falling trendline.
The break signals a reversal of the downtrend from the Dec. 17, 2019 high of $1.4245.
Support is at $1.0625, a break below which could open the way towards $1.0370.
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