Coffee price surrendered to the negative pressures, forcing it to suffer several losses towards 339.20, facing a strong support base as appears in the above image.

 

The price stability above this support and stochastic attempt to exit the oversold level might provide a chance to recover several losses by its rally towards 359.80, then wait for facing the moving average 55 near 368.50.

 

The expected trading range for today is between 338.00 and 359.80

 

Trend forecast: Bullish