New York coffee contract may test support at $2.9325/lb
New York December coffee on ICEUS:KC1! may test support at $2.9325 per lb. A break below could open a move toward $2.8755, with the contract recently slipping under its $2.9785 50% projection.
New York December coffee ICEUS:KC1! may test a support at $2.9325 per lb, a break below which could open the way toward $2.8755.The contract is riding on a wave c which has briefly travelled below its 50% projection level of $2.9785.
It is expected to extend to the 61.8% level of $2.9325.A further…