SINGAPORE: New York December coffee may retest a resistance at $1.8660 per lb, a break above which could lead to a gain to $1.8945.
The contract stabilized around a rising trendline. This behaviour suggests a further consolidation above the line or a continuation of the uptrend from the Aug. 2 low of $1.7450.
Support is at $1.8335, a break below which could cause a fall into $1.8035-$1.82 range.
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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