Coffee price continues to rise – Analysis – 15-12-2020

Coffee contracts’ price reinforced its affection by the domination of the bullish bias to notice surpassing 23.6% Fibonacci correction level at 119.00 recently, recording new targets by reaching 121.37, also, stochastic reach to 80 level will provide chances to gather new positive momentum, to expect moving towards the key resistance at 130.90 to form the main target of the current bullish trades.

Note that continuing to face the positive pressures and attempting to breach the targeted resistance will confirm moving to new bullish track, to target 139.50 as a next station.

The expected trading range for today is between 122.00 and 131.00

The expected trend for today: Bullish