Coffee contracts renews the negative attempts– Analysis – 13-2-2019

Coffee contracts price formed an extra bearish wave in its last trading, to increase the pressure on the support at 100.40 in order to open the way towards resuming the bearish attack, to avoid any losses in the current period we recommend waiting for providing a negative close below the current support, to confirm its readiness to record new negative targets by reaching 95.40 and 89.60.

The price gets its negative momentum by stochastic fluctuation below 50 level, besides its stability within the bearish channel’s levels and forming an extra resistance at 107.45 level against the current fluctuation.

The expected trading range for today is between 103.50 and 95.40

The expected trend for today: Bearish