Coffee price holds above the support – Analysis – 4-1-2022

Coffee price ended the correctional bearish attack by testing the bullish channel’s support line at 220.15, to form the main factor to keep the positive stability for the upcoming period, while the price needs new positive momentum to manage to surpass the moving average 55 at 227.65 followed by attempting to reach the first main positive station at 236.25.

On the other hand, facing new negative pressures and crawling below the mentioned support will confirm moving to the bearish track, expecting to form strong negative trades to target 211.80 level initially.

The expected trading range for today is between 220.00 and 228.00

The expected trend for today: Bullish