Coffee prices suffered strong negative pressures in its last trading, which forces it to settle again below %50 Fibonacci correction level 360.00, to notice big losses by its decline towards 330.00 support.

 

Reminding you that the continuation of providing negative momentum by the main indicators will increase the chances of breaking the current support, to open the way for targeting extra negative stations that might begin at 326.00 and 316.50, while regaining the bullish bias requires a new daily close above 360.00 level.

 

The expected trading range for today is between 326.00 and 342.00

 

Trend forecast: Bearish