Coffee contracts continue to decline – Analysis – 14-11-2018

Coffee contracts price continued to form strong negative trades to notice its release from the initial support at 114.20 and achieve the first negative target at 107.50, while in general, the price stability within the bearish channel and getting negative momentum by the major indicators form factors that agree the continuation of the negativity, to expect moving towards 103.25 level followed by attempting to press on the main support at 93.60.

Stochastic decline from the overbought areas and settling below 50 level reinforces the negative overview by continuing to provide negative momentum to assist the attempt to record the mentioned targets.

Expected trading range for today is between 114.00 and 103.25

Expected trend for today: Bearish