Capital Com MENA Securities Trading LLC is regulated by the Capital Market Authority.
Open platformOpen platform

New York coffee may extend loss into $2.7225-$2.7610 range

By Reuters News

SINGAPORE, Nov 5 (Reuters) - New York December coffee may extend loss into a range of $2.7225-$2.7610 per lb, as suggested by a projection analysis.

The contract has briefly pierced below a support at $2.7850, the 223.6% projection level of a downtrend from $3.1485. The bounce triggered by the support looks weak, limited to $2.8230.

The consolidation in the range of $2.7850-$2.8230 is likely turn to out to be a bearish continuation pattern, unless the market breaks $2.8230.

The break would lead to a gain into a $2.8615-$2.8855 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.​


tech https://tmsnrt.rs/4iIDERc

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.