The coffee price ended its last bullish rally by surpassing the barrier at 370.60, confirming its move to a new positive station by recording 390.30 level, which forces it to form some sideways trading due to stochastic exit from the overbought level as appears in the above image.

 

Therefore, we will keep waiting for the positive momentum, which allows it to settle above 370.00 level, then begin targeting extra positive stations by reaching 400.55 and 411.20.

 

The expected trading range for today is between 375.00 and 400.00

 

Trend forecast: Bullish