NY coffee may test resistance at $1.2695

SINGAPORE: New York March coffee may test a resistance at $1.2695 per lb, a break above could lead to a gain to $1.2810.

The resistance is provided by the 50% retracement on the downtrend from $1.3175 to $1.2215. The bounce consists of three waves.

The third wave labelled c is unfolding towards the target zone.

Support is at $1.2580, a break below could cause a fall to $1.2440.

Note: Coffee report is published twice a week - Tuesday and Thursday.

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