Coffee price resumes the bearish correction – Analysis – 21-12-2121

Economies.com
2021-12-21 06:05AM UTC

Coffee price surrendered to the domination of the correctional bearish bias by declining below 233.60 level that formed the neckline of the head and shoulders’ pattern that appears on the chart, suffering clear losses by reaching 228.70.

 

The current negative stability below the moving average 55 and stochastic reach to the oversold areas form factors that confirm the domination of the correctional bearish bias domination, to expect resuming the decline in order to reach 218.00 followed by attempting to test the bullish channel’s support line at 214.00.

 

The expected trading range for today is between 230.00 and 214.00

 

The expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold about to trade above $2400
2024-05-16 09:55AM UTC
Gold prices rose in European trade on Thursday, extending gains for the third straight session and ...
Steel News

Commodities

Nickel edges up as dollar tumbles
2024-05-15 15:57PM UTC
Nickel prices rose on Wednesday as the dollar slid against major rivals following major US ...
Oil News

Commodities

Oil prices slide to 3-month trough on grim outlook for global demand
2024-05-15 14:37PM UTC
Global oil prices skidded in American trade on Wednesday to three-month lows, sharpening losses for ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price achieves the target – Forecast today – 17-5-2024
2024-05-17 07:17AM UTC
Natural Gas Price Analysis Expected Scenario The natural gas price succeeded in renewing ...
Platinum Analysis

Commodities

Platinum price needs to surpass the barrier – Forecast today – 17-5-2024
2024-05-17 07:07AM UTC
Platinum Price Analysis Expected Scenario The platinum price touched the $1081.00 level ...
Copper Analysis

Commodities

Copper price repeats the positive closings – Forecast today – 17-5-2024
2024-05-17 07:06AM UTC
Copper Price Analysis Expected Scenario The copper price shows no change to its track, ...