Coffee price failed in its last trading by breaching 316.40 level, forcing it to form bearish corrective waves, to settle before 297.00.

 

Despite the contradiction between the main indicators, the main stability above the main support at 276.00 supports the continuation of the positive trading in the upcoming period, therefore, we will keep waiting for gathering positive momentum to ease its rally towards 307.80, then repeating the attempts of pressing on the previously mentioned barrier to find an exit for recording extra gains in the upcoming period.

 

The expected trading range for today is between 290.00 and 307.80

 

Trend forecast: Bullish