SINGAPORE: New York March coffee may retest a support at $1.1995 per lb, a break below which could confirm a target of $1.1770.
The support is provided by the 76.4% projection level of a downward wave C from $1.2730.
This wave is expected to travel to $1.1770.
Resistance is at $1.2250, a break above which could lead to a gain into $1.2365-$1.2505 range. Note: Coffee report is published twice a week - Tuesday and Thursday.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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