Coffee price started to form correctional bearish waves after facing 438.00$ barrier, to notice activating the attempts to gain profits by crawling towards 411.00, while the intraday negativity is caused by stochastic decline below 50 level, which allows us to suggest forming mixed trades until gathering the positive momentum again, to confirm the domination of the bullish scenario on the near-term and medium-term basis.

 

The frequent stability above 399.00$ support line confirms keeping the bullish track, to expect gathering additional positive momentum and renew the pressure on the mentioned barrier, while surpassing it will push the price to record new historical highs that might start at 447.00$ and 454.00$.

 

The expected trading range for today is between 431.00 and 407.00

 

Trend forecast: Bullish