Coffee price keeps the positivity – Analysis – 17-1-2022

Despite Coffee price affection by the stability of the additional barrier near 245.00, that didn’t affect the main bullish track, to keep its frequent stability within the bullish channel that appears on the chart.

Now, the fluctuating of the moving average 55 above the main bullish channel’s support line at 227.50 in addition to stochastic positive momentum signals allow us to expect the beginning of forming the bullish attempts, to press on the mentioned barrier, while surpassing it will push the price to achieve additional targets by reaching 250.50 and 258.05 levels.

The expected trading range for today is between 230.00 and 245.00

The expected trend for today: Bullish