Coffee price lost its bullish momentum in its last trading, forcing it to provide some bearish corrective trading by targeting 324.50 level, note that the contradiction of the main indicators might push the price to provide mixed sideways trading, however the main stability above 275.90 level forms an important support level that makes us keep the bullish scenario in the near and medium period trading.

 

The price needs a new bullish momentum, to step above 320.00 level, reinforcing the chances of forming new bullish waves, targeting 333.60 level initially, repeating the pressure on the barrier at 350.00.

 

The expected trading range for today is between 310.50 and 333.60

 

Trend forecast: Bullish