NY coffee may test resistance at $2.0665

SINGAPORE: New York December coffee may test a resistance at $2.0665 per lb, a break above which could lead to a gain to $2.09.

The contract is riding on a wave c from $1.9130.

This wave is capable of travelling into $2.0665-$2.1615 range.

It is a part of a bigger wave C from $1.82, which may at least extend to $2.09.

Support is at $2.0265, a break below which could cause a fall into $1.9870-$2.0080 range.

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