Coffee price achieves some targets – Analysis – 22-12-2023

Coffee price formed new bullish rally recently, confirming its surrender to the domination of the previously suggested bullish bias, to record some new targets by touching 202.75, while the intraday rebound towards 192.00 hints the attempt to gather new positive momentum to ease the mission of surpassing 204.40 obstacle and open the way to reach the additional stations represented by 209.90 followed by reaching 226.80 resistance in the upcoming period.

The bullish overview will depend on 185.00 level forming the initial support in addition to the positive momentum coming by the major indicators to ease the mission of recording the mentioned positive gains.

The expected trading range for today is between 188.80 and 204.40

The expected trend for today: Bullish