Coffee price continued to form bullish waves recently, taking advantage of its consolidation within the bullish channel and 347.10 level forming new support line, to notice achieving the first main target at 367.80.

 

We expect the domination of the sideways bias to provide mixed waves until breaching 367.80 to open the way to record new historical gains that might extend towards 376.00 followed by reaching the bullish channel’s support line at 383.20.

 

The expected trading range for today is between 355.00 and 376.00

 

Trend forecast: Bullish