Coffee price attempts to hold above the support – Analysis – 18-8-2021

Economies.com
2021-08-18 04:33AM UTC

Coffee contracts’ price faced strong negative pressures that led to form strong correctional bearish rebound and settle near 176.20 support line, noticing that the price faces the negative pressures by fluctuating above this support lien to increase the chances of gathering the required positive momentum to renew the bullish attempts and reach positive stations that might start at 188.10 and 193.90.

 

On the other hand, surrendering to the negative pressures and crawling below the mentioned support will postpone the bullish attack and force the price to suffer additional losses by moving towards 171.10 followed by reaching 38.2% Fibonacci correction level at 164.30.

 

The expected trading range for today is between 176.20 and 188.10

 

The expected trend for today: Bullish

Commodities News

Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...
Oil News

Commodities

Oil prices extend losses after a spike in US inventories
2024-03-27 13:21PM UTC
Oil prices declined in European trade on Wednesday, extending losses for the second session, with ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...
Oil Analysis

Commodities

Crude oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Crude Oil Price Analysis Crude oil price settles around 82.00$ level since morning, and ...
Silver Analysis

Commodities

Silver price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Silver Price Analysis Silver price faces expected negative pressure to test the key support ...