NY coffee neutral in $2.3525-$2.4030 range

SINGAPORE: Signals for New York coffee remains neutral as it is sandwiched within a range of $2.3525-$2.4030 per lb.

A fall below the range will confirm a target at $2.3020 per lb, a presumed wave "b" trough, while a rise above it will extend to $2.4290, the 76.4 percent Fibonacci projection level of a wave "c" target.

The magnitude of the retracement from the Nov. 15 high of $2.4330 indicates a downside bias.

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