Coffee contracts’ price begins the bullish correction – Analysis – 10-6-2019

Coffee contracts’ price succeeded to get rid of the negative pressures by rallying above the moving average 55 recently, located at 97.55, to notice recording the first correctional targets by reaching 102.65, while the current sideways fluctuation is caused by stochastic contradiction with the attempts to resume the bullish attack, to keep waiting to gather new positive momentum that eases the mission of reaching the next target at 107.50, while surpassing it might extend trades towards testing the bearish channel’s resistance at 114.10.

The expected trading range for today is between 97.50 and 107.50

The expected trend for today: Bullish