Markets
New York coffee may bounce more to $0.9850
- The resistance is provided by the 176.4pc projection level on a downtrend from $1.2260.
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SINGAPORE: New York July coffee may bounce more to $0.9850 per lb, as it has pierced above a resistance at $0.9630.
The resistance is provided by the 176.4pc projection level on a downtrend from $1.2260.
A small double-bottom formed around a support at $0.9280.
Along with the bullish divergence on the hourly RSI, it suggests a further bounce.
A break below $0.9485 could cause a fall to $0.9280.