Coffee contracts’ price threats the positive stability – Analysis – 13-7-2018

Coffee contracts price provided negative strong negative rebound by crawling below 113.00 support, suffering losses by reaching 106.85, while the continuous fluctuation below the broken support will increase the chances of getting rid of the positive domination to renew the bearish attempts and expect to move towards 106.00 followed by extending losses towards 101.15, to press on the previously recorded low.

The moving average 55 fluctuation above the current price increases the negative pressures to increase the chances of forming new negative trades in the near term period, also, stochastic release from the overbought areas pushes the price to lose its positive momentum and allow it to gather new negative momentum to start recording the mentioned negative targets.

Expected trading range for today is between 113.00 and 106.00

Expected trend for today: Bearish