Coffee contracts’ price surrenders to the negativity – Analysis – 18-7-2019

Coffee contracts’ price confirmed surrendering to the bearish bias domination by bouncing from the bearish channel’s resistance at 112.20, to notice recording 95.80 level, while the fluctuation within the bearish channel allows us to suggest more negative trades to repeat the pressure on 91.80 level followed by attempting to reach 85.40 support.

Stochastic fluctuation near 20 level forms main factor to confirm the negativity by providing additional negative momentum to ease the mission of forming new negative trades until reaching the mentioned targets.

The expected trading range for today is between 104.00 and 91.80

The expected trend for today: Bearish