Coffee price managed to shake off transient negative pressures and close higher above the initial support at $370.70, as the Stochastic exited oversold levels with the price marking some gains and settling near $390.0.

 

As the price is continuously exposed to positive pressures, it’ll reinforce the upward trend towards the $406 barrier, with a breach leading the way to $418.00 then $427.50. 

 

Expected trading range today is between the $375.00 support and the $406.00 resistance.

 

Today’s price forecast: Bullish