Coffee price tests the neckline – Analysis – 23-12-2021
Economies.com
2021-12-23 06:08AM UTC
Coffee price formed correctional bullish rebound recently, to test the neckline of the head and shoulders’ pattern near 235.00, while the stability of this barrier will increase the chances of forming strong negative attack to target 227.20 level initially, followed by reaching 217.00 to press on the bullish channel’s support line.
On the other hand, succeeding to surpass the current barrier and holding above it will cancel the effect of the negative pattern and provide chances to renew the bullish attempts in order to reach 243.00 level initially.
The expected trading range for today is between 235.00 and 227.20
The expected trend for today: Bearish
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