Coffee contracts’ price surpasses all the barriers – Analysis – 27-4-2021

Coffee contracts price formed strong bullish rally recently, surpassing all the barriers, to settle above 38.2% Fibonacci correction level at 139.20, confirming the preparation to record additional positive targets now.

Also, stochastic reach to the overbought areas supports our bullish overview by providing the additional positive momentum to increase the chances of reaching 147.40 as a first target for the current trades, while surpassing this barrier might extend trades towards 155.90 in the upcoming period.

The expected trading range for today is between 139.20 and 147.40

The expected trend for today: Bullish