Coffee price faced strong negative pressure, to force it settle below $292.00, suffering clear losses by reaching $274.00 level, approaching a key support, as it formed a strong demand zone at $269.25, which represents a confirmation key for the main trend in the upcoming trading.

 

The stability of the price above the support makes us wait for gathering positive momentum, to form strong bullish waves, to pressure the obstacle at $295.00, where surpassing it will confirm its readiness to record extra gains that might begin at $305.60 and $319.20.

 

The expected trading range for today is between 270.00 and 295.00

 

Trend forecast: Bullish