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SINGAPORE: New York September coffee may retest a resistance at $1.8430 per lb, a break above could lead to a gain at $1.8620.
The contract is presumed to be riding on a wave c, the third wave of a bounce from $1.7450. This wave may travel into a range of $1.8810 to $1.9420.
A break below $1.8055 could cause a fall to $1.7820. A further drop could be extended to $1.7450.