Despite coffee price consolidation within the bullish channel until this moment, the major indicators provide negative momentum to lead the price to form strong negative rebound, noticing reaching 157.80 now.
The negative trades might extend towards 151.70 soon, to test the major support of the bullish channel followed by starting to form new positive waves in order to confirm the domination of the bullish bias for the upcoming trading, expecting to target 169.50 followed by reaching the MA55 near 182.00.
The expected trading range for today is between 163.40 and 152.00
The expected trend for today: Bearish