|
Coffee price attempts to hold above the support – Analysis – 18-8-2021
Coffee contracts’ price faced strong negative pressures that led to form strong correctional bearish rebound and settle near 176.20 support line, noticing that the price faces the negative pressures by fluctuating above this support lien to increase the chances of gathering the required positive momentum to renew the bullish attempts and reach positive stations that might start at 188.10 and 193.90.
On the other hand, surrendering to the negative pressures and crawling below the mentioned support will postpone the bullish attack and force the price to suffer additional losses by moving towards 171.10 followed by reaching 38.2% Fibonacci correction level at 164.30.
The expected trading range for today is between 176.20 and 188.10
The expected trend for today: Bullish
Thanks for your feedback.
The Australian index begins the negative correction – Analysis – 18-8-2021
The Australian index was affected by the strength of 7630.00 barrier recently, to force it to postpone the bullish attack and start forming correctional bearish trades and record some losses by reaching 7444.00.
MoreIBEX index ends the positive rebound – Analysis – 18-8-2021
IBEX index ended the positive rebound by settling below 9100.00 level, to form additional barrier against it, noticing forming negative wave by reaching 8820.00.
MoreThe EURJPY prepares for new decline – Analysis – 18-8-2021
Despite the EURJPY pair’s recent slow trades, that will not affect the negative stability, due to the stability of 128.80 barrier in addition to stochastic continuous negative momentum signals.
More