New York September coffee ICEUS:KC1! may extend gains to $3.2360 per lb, driven by a wave c.
This wave started at $2.6015. It has briefly travelled above its 138.2% projection level of $3.1435. Chances are it may extend to the 161.8% level of $3.2360.
Support is at $3.0860, a break below which could open the way towards $2.9940-$3.0510 range.
*The coffee report is published twice a week on Tuesday and Thursday.
** Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are exclusively published on the Workspace platform - a London Stock Exchange product.
** No information in this analysis should be considered business, financial, or legal advice. Each reader should consult their own professional or other advisers for business, financial, or legal advice regarding the products mentioned in the analyses.