BR100 3,625 Increased By ▲ 19 (0.53%)
BR30 18,468 Increased By ▲ 107 (0.58%)
KSE100 35,203 Increased By ▲ 151 (0.43%)
KSE30 15,247 Increased By ▲ 44 (0.29%)
COVID-19 TOTAL DAILY
CASES 231,818 3344
DEATHS 4,762 50
Sindh 94,528 Cases Today
Punjab 81,963 Cases Today
Balochistan 10,814 Cases Today
Islamabad 13,494 Cases Today
KP 28,116 Cases Today
Markets

NY March coffee biased to fall to $1.0030

SINGAPORE: New York March coffee is biased to break a support at $1.0235 per lb and fall to the next support at $1.0030.

December 17, 2018

SINGAPORE: New York March coffee is biased to break a support at $1.0235 per lb and fall to the next support at $1.0030.

These supports are identified respectively as the 161.8 percent and the 176.4 percent projection levels of a downward wave (c) from $1.25.

Despite the bullish divergence on the hourly RSI, coffee failed to clear a resistance at $1.04. The bounce triggered by the support at $1.0235 was so weak that it suggests a strong bearish momentum.

A break above $1.04 could lead to a gain to $1.0565.

Copyright Reuters, 2018