• The support is provided by the 138.2pc projection level on a downtrend from $1.2260.
  • Based on this projection analysis, the contract may eventually drop to $0.9850.

SINGAPORE: New York July coffee may break a support at $1.02 per lb, and fall into the range of $0.9850-$1.0025.

The support is provided by the 138.2pc projection level on a downtrend from $1.2260.

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

Resistance is at $1.0420, a break above which could lead to a gain into the range of $1.0550-$1.0665.