THIS GIVES YOU INFORMATION ABOUT MARKET OF COFFEE AND COCOA (NEWS, TODAY CLOSING FORECAST, SETTLE PRICE, ETC).
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Thursday, April 28, 2011
NY coffee ( arabica ) Forecast for today, April 28, 2011
SINGAPORE, April 28, 2011 - New York coffee is biased to rise to $3.06 per lb, as the current consolidation may develop into a bullish flag pattern.
Strategically, the pattern will be confirmed when coffee rises above a resistance of $2.9850, derived from the upper channel line of a descending channel.
But a fall below $2.93 will invalidate the bullish outlook as a bearish target at $2.8895 will be established based on a double-top.
