Trading Analysis: Coffee Price

Coffee price succeeded in getting rid of the temporary negative pressures by providing frequent positive closings above the MA55 that formed additional support at $180.10, noticing the bullish rally and recording big gains by reaching $205.70. The main stability within the bullish channel and stochastic positive momentum signals allow us to keep the bullish overview, expecting to attack the additional barrier at $211.00 soon. Surpassing it will push the price towards $218.85 as the next main station. The expected trading range for today is between $199.50 and $211.00

Trend Forecast

Bullish