Markets

NY coffee to rise to $2.3960/lb

Published Updated

This wave is the second upward leg of a rebound from the Oct. 3 low of $2.2315, progressing towards $2.5520, the 100 percent Fibonacci projection level over the next few trading sessions.

An immediate target is $2.3960, the 50 percent projection level.

No information in this analysis should be considered as being business, financial or legal advice. 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.

Copyright Reuters, 2010