Coffee price hits the resistance – Analysis – 18-1-2021
Economies.com
2021-01-18 06:13AM UTC
Coffee contracts’ price ended its bullish rally by facing the major resistance at 131.35, to form solid obstacle against the bullish attempts and notice the rebound negatively towards 127.25.
The continuous stability of the current resistance allows us to suggest the domination of the bearish bias for the upcoming period, expecting to gather the negative momentum and target 123.30 initially, followed by reaching 118.60 support line.
The expected trading range for today is between 130.00 and 123.30
The expected trend for today: Bearish
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