SINGAPORE: New York March coffee may break a support at $2.3865 per lb and fall into $2.3230-$2.35 range.

The current bounce could be well broken down into five waves. Such a structure suggests the completion of the bounce, or the formation of a temporary top around $2.45.

Coffee may fall into the range of $2.3230-$2.35, in which a wave d ended. A break above $2.45 could lead to a gain to $2.4895.

NY coffee may retest resistance at $2.35

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