Coffee contracts price provides strong positive rally – Analysis – 18-10-2018
Economies.com
2018-10-18 06:43AM UTC
Coffee contracts price took advantage of stochastic positivity by reaching the overbought areas, to form strong positive attack and surpass the bearish channel’s resistance at 114.20, noticing the beginning of recording the positive targets by reaching 122.80.
We expect 116.40 level to form additional support to provide new positive rally and surpass the moving average 55 at 124.50, attempting to reach the main resistance at 129.80.
Expected trading range for today is between 118.60 and 124.50
Expected trend for today: Bullish
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