New York coffee may fall to $0.9955 per lb

• The support is identified as the 86.4pc retracement of the uptrend from $0.9580 to $1.4245. Given that coffee has briefly pierced below $1.0215.
• The 200pc projection level on a downward wave c from $1.3465.

The support is identified as the 86.4pc retracement of the uptrend from $0.9580 to $1.4245. Given that coffee has briefly pierced below $1.0215, it is highly likely to revisit $0.9580.

A projection analysis reveals an immediate target at $0.9955, the 200pc projection level on a downward wave c from $1.3465. Resistance is at $1.0370, a break above which could lead to a gain to $1.0625.