Coffee prices attempted to withstand the negative pressure resulting from negative momentum signals across the main technical indicators, while trying to hold above the additional support level at 283.80. This forced the price to move sideways in mixed trading, as appears on the attached chart.

 

We expect the price to gather positive momentum soon and begin forming bullish waves, targeting 301.20, before renewing pressure on the resistance barrier near 315.00. However, a break below the current support would force the price to form strong bearish waves, potentially driving it directly toward the main support level at 269.45. We will then monitor the price reaction to determine the broader direction of upcoming trading.

 

The expected trading range for today is between 284.00 and 301.20

 

Trend forecast: Bullish