SINGAPORE: New York March coffee may break a resistance at $2.45 per lb, and rise into $2.4895-$2.5525 range.
The contract managed to retest the resistance after a correction.
Despite its failure, the attempt itself suggests a continuation of the uptrend towards a range of $2.4895 to $2.5525.
NY coffee may fall into $2.3230-$2.35 range
Support is at $2.4260, a break below could cause a fall into $2.3865-$2.4055 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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