Coffee price hits key barrier – Analysis – 11-1-2022
Economies.com
2022-01-11 05:50AM UTC
Coffee price ended its recent bullish rally by facing the extension of the head and shoulders’ neckline at 240.00, to hinder the bullish attempts and notice the stability near 234.10.
The continuous stability of the mentioned barrier and stochastic exit from the overbought areas confirm postponing the bullish attempts, to expect suffering additional losses soon, which might extend towards 228.60 followed by reaching the bullish channel’s support line at 223.40.
The expected trading range for today is between 238.00 and 228.60
The expected trend for today: Bearish
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