Coffee contracts price keeps the negativity – Analysis – 14-12-2018

Coffee contracts price continued to form negative trades affected by the consolidation within the bearish channel to settle below the initial resistance at 106.70, thus, we will keep suggesting the negative attempts until reaching 95.05 low, while the continuous negative pressures will allow the price to touch the bearish channel’s resistance at 91.60.

Stochastic stability within the oversold areas reinforces our negative overview by providing additional negative momentum to assist to attempt forming new negative attack until achieving the previously suggested targets.

Expected trading range for today is between 106.70 and 99.50

Expected trend for today: Bearish