Coffee contracts price keeps the negativity – Analysis – 26-7-2018

Coffee contracts price confirmed its affection by the bearish bias domination, by providing repeated closes below the resistance at 113.10, and the stability of the moving average 55 above the current trading reinforces the negative stability by providing extra negative momentum, to keep waiting for forming a new bearish attack, to target 104.65 level reaching to the initial support at 101.15.

Stochastic begin to form a bearish wave by its stability below 80 level will increase the chances for gaining negative momentum, opening the way towards forming a strong negative trading until reaching the suggested targets.

Expected trading range for today is between 113.00 and 104.65

Expected trend for today: bearish.