Coffee price activated the previously suggested bearish trend by providing new negative closes below the broken support at 276.00, to form a strong barrier and form some bearish waves, approaching the initial target at 259.60.

 

Note that stochastic stability within the oversold level will increase the chances of gaining extra negative momentum, to resume the bearish attempts that might target 243.40 and 233.70 level.

 

The expected trading range for today is between 243.40 and 270.00

 

Trend forecast: Bearish