New York coffee may test support at $1.02

• Based on this projection analysis, the contract may eventually fall to $0.9850.
• A break above $1.0550 could signal a reversal of the downtrend.

The support is provided by the 138.2pc projection level on a downtrend from $1.2260. It triggered a pullback toward a rising trendline. The pullback could have completed.

Based on this projection analysis, the contract may eventually fall to $0.9850.

A break above $1.0550 could signal a reversal of the downtrend.