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New York coffee may end fall in $0.9495-$0.9520 range
The range is formed by the 86.4pc retracement of the uptrend from $0.9340 to $1.0495 and the 100pc projection level
- The range is formed by the 86.4pc retracement of the uptrend from $0.9340 to $1.0495 and the 100pc projection level of a downward wave c from $1.0290.
- This wave seems to be completing around $0.9520.
SINGAPORE: New York December coffee may end its fall in a support range of $0.9495-$0.9520 and then test a resistance at $0.9315 per lb.
The range is formed by the 86.4pc retracement of the uptrend from $0.9340 to $1.0495 and the 100pc projection level of a downward wave c from $1.0290.
This wave seems to be completing around $0.9520.
A break above $0.9615 may lead to a gain to $0.97 while a break below $0.9495 could cause a fall to $0.9340.
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