NY coffee may stabilize around $3.5415 and bounce in Q4
Reuters technical analysis says support at $3.5415 per lb may hold, with a possible bounce toward $2.8775-$3.2130.
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NY coffee may stabilize around $3.5415 and bounce again in Q4
New York coffee ICEUS:KC1! may stabilize around a key support at $3.5415 per lb again in the fourth quarter and bounce toward a range of $2.8775-$3.2130.The support is identified as the 61.8% retracement of the uptrend from $1.4550 to $4.2995. A strong bounce occurred when the market failed to brea…