Coffee price begins with new positivity – Analysis – 13-12-2023

Coffee price provided more positive closings within the bullish channel to notice moving away form the major support 167.50, taking advantage of the MA55 forming additional support at 175.00, achieving some gains by settling near 186.00.

Now, stochastic approach to the overbought areas will increase the chances of gathering the additional positive momentum to ease the mission of resuming the bullish attack, waiting to reach 193.90 level soon, while surpassing it might extend trades towards 202.50 in the medium-term period.

The expected trading range for today is between 179.80 and 193.90

The expected trend for today: Bullish