Coffee contracts’ price faced strong positive pressures yesterday to notice forming bullish rally and surpass the key resistance 150.80, to confirm regaining the bullish bias.
We expect 105.80 level to form solid support, besides stochastic continuous positive momentum signals, these factors allow us to expect moving towards 109.70 level soon, followed by attempting to reach 23.6% Fibonacci correction level at 119.00.
The expected trading range for today is between 105.00 and 109.70
The expected trend for today: Bullish