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New York coffee may test support at $0.9615 per lb
New York December coffee may test a support at $0.9615 per lb, a break below which could cause a fall into the rang
- New York December coffee may test a support at $0.9615 per lb, a break below which could cause a fall into the range of $0.9495-$0.9520.
- The third wave labelled c is capable of travelling to $0.9520, its 100pc projection level.
SINGAPORE: New York December coffee may test a support at $0.9615 per lb, a break below which could cause a fall into the range of $0.9495-$0.9520.
The support is identified as the 76.4pc retracement of the uptrend from $0.9340 to $1.0495.
The correction from $1.0495 consists of three waves.
The third wave labelled c is capable of travelling to $0.9520, its 100pc projection level.
A break above $0.97 may lead to a gain limited to $0.9780.
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