Coffee price fluctuates within the bearish track – Analysis – 29-7-2022

2022-07-29 07:22:50 GMT (Economies.com)
 

Coffee price gained some of the positive momentum yesterday, which might push it to form temporary bullish correctional rebound, to test the moving average 55 near 221.00.

 

The main stability within the bearish channel’s levels that appear in the above image, besides the attempt of forming an extra barrier by the moving average55, so that makes us wait for gathering negative momentum, to ease the mission of renewing the negative attack and reaching 211.60 and 204.40 in the near period.

 

The expected trading range for today is between 222.00 and 211.60

 

The expected trend for today: Bearish

 

 

 
 
 
  Symbol Last Change Chg.%
1.0519
-0.0071
0.6720%
1.2215
-0.0091
0.7364%
22.493
-0.664
2.867%
75.915
-5.560
6.824%
81.72
-1.30
1.57%
1779.145
-16.415
0.914%
 
 
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