Coffee contracts keeps the negative stability – Analysis – 4-2-2019

Coffee contracts price ended its positive rebound by facing 107.45 resistance, to form good obstacle against the attempts to change the main trend, which allows us to keep the negative overview that targets breaking 100.10 barrier and target 95.30 level mainly.

On the other hand, attempting to breach the current resistance will confirm postponing the negative attack and start building correctional bullish trades to move towards 110.80 followed by reaching 23.6% Fibonacci correction level at 114.30.

Expected trading range for today is between 107.00 and 110.10

Expected trend for today: Bearish